ARM (NASDAQ:ARM) Price Target Lowered to $150.00 at Wells Fargo & Company

ARM (NASDAQ:ARM - Get Free Report) had its price objective lowered by Wells Fargo & Company from $185.00 to $150.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 33.45% from the company's current price.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Barclays dropped their price objective on ARM from $155.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group upped their target price on shares of ARM from $159.00 to $174.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Bank of America lowered their price target on shares of ARM from $180.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Loop Capital upped their price objective on shares of ARM from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ARM presently has an average rating of "Moderate Buy" and a consensus target price of $162.95.

ARM Trading Down 0.8 %

Shares of ARM stock traded down $0.94 during trading hours on Monday, hitting $112.40. The company's stock had a trading volume of 1,012,465 shares, compared to its average volume of 7,232,937. The business has a fifty day moving average of $114.34 and a 200-day moving average of $134.37. ARM has a twelve month low of $80.00 and a twelve month high of $188.75. The stock has a market cap of $117.77 billion, a price-to-earnings ratio of 148.64, a P/E/G ratio of 6.33 and a beta of 4.48.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in ARM by 13.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,689 shares of the company's stock worth $1,889,000 after buying an additional 2,155 shares during the period. MorganRosel Wealth Management LLC bought a new position in ARM in the first quarter worth about $53,000. Valley National Advisers Inc. raised its position in shares of ARM by 24.5% during the 1st quarter. Valley National Advisers Inc. now owns 763 shares of the company's stock worth $81,000 after purchasing an additional 150 shares during the period. Crown Wealth Group LLC lifted its holdings in shares of ARM by 8.3% in the 1st quarter. Crown Wealth Group LLC now owns 2,604 shares of the company's stock worth $278,000 after purchasing an additional 200 shares during the last quarter. Finally, Convergence Financial LLC boosted its position in ARM by 2.0% during the 1st quarter. Convergence Financial LLC now owns 6,991 shares of the company's stock valued at $747,000 after purchasing an additional 136 shares during the period. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.

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