Wells Fargo & Company Boosts ARM (NASDAQ:ARM) Price Target to $115.00

ARM (NASDAQ:ARM) had its price objective raised by stock analysts at Wells Fargo & Company from $100.00 to $115.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna restated a “neutral” rating and set a $85.00 price objective on shares of ARM in a report on Thursday, April 4th. New Street Research reiterated a “neutral” rating and set a $110.00 price objective on shares of ARM in a research note on Tuesday, February 27th. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a research note on Friday, April 19th. Evercore ISI initiated coverage on ARM in a report on Tuesday, April 16th. They set an “outperform” rating and a $156.00 target price for the company. Finally, Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $130.00 in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of 92.08.

ARM Stock Performance

Shares of ARM traded up 0.98 during midday trading on Monday, hitting 102.93. The stock had a trading volume of 3,087,971 shares, compared to its average volume of 14,471,194. ARM has a twelve month low of 46.50 and a twelve month high of 164.00. The company has a 50 day simple moving average of 125.07 and a two-hundred day simple moving average of 88.36.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million during the quarter, compared to the consensus estimate of 762.50 million. The business’s revenue was up 13.8% on a year-over-year basis. Equities analysts expect that ARM will post 0.36 EPS for the current fiscal year.

Institutional Trading of ARM

A number of hedge funds have recently bought and sold shares of ARM. Schroder Investment Management Group bought a new position in shares of ARM during the fourth quarter valued at $480,194,000. Jennison Associates LLC purchased a new stake in shares of ARM in the third quarter worth approximately $339,965,000. FMR LLC purchased a new stake in shares of ARM in the third quarter worth approximately $242,812,000. Wellington Management Group LLP purchased a new position in ARM during the 3rd quarter worth $152,896,000. Finally, Invesco Ltd. purchased a new position in ARM during the 3rd quarter worth $143,092,000. 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.