ARM (NASDAQ:ARM) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of ARM (NASDAQ:ARM) in a report issued on Friday, MarketBeat reports. The firm issued an overweight rating and a $155.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Daiwa America raised shares of ARM from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 8th. Sanford C. Bernstein downgraded shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research report on Thursday, October 31st. Evercore ISI boosted their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Susquehanna raised their price objective on ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Raymond James started coverage on ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

ARM Stock Up 2.7 %

Shares of NASDAQ:ARM opened at $139.68 on Friday. ARM has a 12-month low of $60.37 and a 12-month high of $188.75. The business has a 50 day moving average of $143.32 and a 200-day moving average of $141.12. The stock has a market cap of $146.36 billion, a PE ratio of 232.80, a P/E/G ratio of 6.79 and a beta of 5.40.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. Equities research analysts expect that ARM will post 0.79 earnings per share for the current year.

Institutional Trading of ARM

A number of hedge funds and other institutional investors have recently modified their holdings of ARM. ORG Partners LLC bought a new stake in shares of ARM during the third quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in ARM during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC increased its position in ARM by 83.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. RiverPark Advisors LLC raised its stake in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of ARM during the second quarter valued at $41,000. Institutional investors own 7.53% of the company’s stock.

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.