Wells Fargo & Company Initiates Coverage on ARM (NASDAQ:ARM)

Analysts at Wells Fargo & Company started coverage on shares of ARM (NASDAQ:ARM) in a report released on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $155.00 price target on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.67% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. William Blair initiated coverage on shares of ARM in a report on Wednesday, September 18th. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their price target on shares of ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, TD Cowen raised their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average target price of $149.86.

ARM Stock Down 0.6 %

ARM stock opened at $132.85 on Friday. ARM has a 52-week low of $59.00 and a 52-week high of $188.75. The firm has a fifty day moving average of $143.52 and a 200-day moving average of $140.20. The firm has a market capitalization of $139.20 billion, a P/E ratio of 221.42, a PEG ratio of 6.64 and a beta of 5.40.

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

Institutional Trading of ARM

Hedge funds have recently bought and sold shares of the company. CreativeOne Wealth LLC acquired a new position in ARM during the 1st quarter valued at about $267,000. Quadrature Capital Ltd acquired a new position in ARM during the 1st quarter valued at about $2,620,000. Lazard Asset Management LLC increased its stake in ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after buying an additional 20,117 shares during the period. BOKF NA increased its stake in ARM by 33.3% during the 1st quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of ARM by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after purchasing an additional 14,584 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

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.