ARM (NASDAQ:ARM) Price Target Raised to $185.00 at Wells Fargo & Company

ARM (NASDAQ:ARM) had its price objective lifted by Wells Fargo & Company from $162.00 to $185.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Raymond James lifted their price objective on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday. The Goldman Sachs Group boosted their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays upped their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.17.

ARM Price Performance

Shares of ARM stock opened at $167.47 on Thursday. The firm has a market capitalization of $175.48 billion, a price-to-earnings ratio of 279.12, a price-to-earnings-growth ratio of 7.46 and a beta of 4.56. The business has a fifty day moving average of $143.45 and a 200 day moving average of $139.80. ARM has a 1 year low of $72.25 and a 1 year high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that ARM will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the period. International Assets Investment Management LLC increased its holdings in shares of ARM by 14,351.1% during the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after purchasing an additional 806,676 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares during the period. Raymond James Financial Inc. bought a new stake in ARM in the fourth quarter valued at about $32,655,000. Finally, Rheos Capital Works Inc. boosted its position in ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after buying an additional 56,000 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.