ARM (NASDAQ:ARM) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of ARM (NASDAQ:ARM) in a report released on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $155.00 price target on the stock.

Several other equities research analysts have also recently commented on ARM. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on ARM from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Susquehanna boosted their target price on ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of ARM in a research note on Thursday, August 1st. Finally, Raymond James started coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.86.

ARM Stock Performance

Shares of ARM opened at $135.99 on Friday. The firm has a market capitalization of $142.49 billion, a price-to-earnings ratio of 226.65, a PEG ratio of 6.64 and a beta of 5.40. ARM has a 52 week low of $60.37 and a 52 week high of $188.75. The business’s fifty day moving average price is $143.30 and its two-hundred day moving average price is $140.40.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, research analysts forecast that ARM will post 0.79 EPS for the current year.

Institutional Investors Weigh In On ARM

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARM. RiverPark Advisors LLC increased its position in ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of ARM by 14.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 627 shares of the company’s stock valued at $90,000 after acquiring an additional 77 shares during the last quarter. BOKF NA grew its position in ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in ARM by 1.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after purchasing an additional 100 shares in the last quarter. Finally, Hobbs Group Advisors LLC raised its position in ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.