ARM (NASDAQ:ARM) Price Target Raised to $190.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised ARM's price target from $175.00 to $190.00, indicating a potential upside of 12.82% from its current price.
• Analysts are generally optimistic about ARM, with a consensus rating of "Moderate Buy" and an average target price of $168.14.
• Shares of ARM recently traded at $168.40, reflecting a trading volume significantly lower than the average, and the stock has a market capitalization of $177.92 billion.

ARM (NASDAQ:ARM - Get Free Report) had its target price increased by Wells Fargo & Company from $175.00 to $190.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 12.82% from the stock's current price.

Several other analysts also recently issued reports on the stock. BNP Paribas Exane raised shares of ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Wednesday, July 16th. Guggenheim upped their price objective on shares of ARM from $147.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Rosenblatt Securities reissued a "buy" rating and set a $180.00 price objective on shares of ARM in a research note on Thursday, July 31st. Mizuho upped their price objective on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, The Goldman Sachs Group started coverage on shares of ARM in a research note on Thursday, July 10th. They set a "neutral" rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $168.14.

ARM Price Performance

Shares of NASDAQ ARM traded down $0.98 on Wednesday, hitting $168.40. The company's stock had a trading volume of 450,126 shares, compared to its average volume of 5,362,037. ARM has a 12-month low of $80.00 and a 12-month high of $182.88. The company has a market capitalization of $177.92 billion, a price-to-earnings ratio of 256.05, a price-to-earnings-growth ratio of 11.18 and a beta of 4.10. The stock has a 50 day moving average of $148.13 and a 200-day moving average of $138.38.

ARM (NASDAQ:ARM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. ARM had a net margin of 16.96% and a return on equity of 15.56%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts expect that ARM will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in ARM by 126.0% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company's stock valued at $25,000 after acquiring an additional 97 shares during the last quarter. Huntington National Bank bought a new position in shares of ARM in the 2nd quarter worth about $30,000. FWL Investment Management LLC bought a new position in shares of ARM in the 2nd quarter worth about $34,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of ARM in the 2nd quarter worth about $39,000. Finally, Brooklyn Investment Group bought a new position in shares of ARM in the 1st quarter worth about $28,000. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.