Wells Fargo & Company Forecasts Strong Price Appreciation for ARM (NASDAQ:ARM) Stock

ARM (NASDAQ:ARM - Get Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $145.00 to $175.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 6.89% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Guggenheim boosted their target price on shares of ARM from $147.00 to $187.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. BNP Paribas Exane upgraded ARM from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research report on Wednesday, July 16th. Rosenblatt Securities dropped their target price on ARM from $203.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group started coverage on ARM in a research report on Thursday, July 10th. They set a "neutral" rating and a $160.00 target price for the company. Finally, KGI Securities started coverage on ARM in a research report on Tuesday, April 15th. They set a "neutral" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.04.

ARM Stock Performance

Shares of NASDAQ ARM traded up $6.98 during midday trading on Monday, reaching $163.72. 2,186,853 shares of the company traded hands, compared to its average volume of 6,005,758. The firm has a market cap of $172.97 billion, a PE ratio of 217.67, a PEG ratio of 9.04 and a beta of 4.19. The stock's 50-day simple moving average is $141.67 and its 200-day simple moving average is $133.37. ARM has a 12 month low of $80.00 and a 12 month high of $182.88.

ARM (NASDAQ:ARM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. ARM had a return on equity of 17.97% and a net margin of 19.76%. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the business posted $0.36 earnings per share. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities research analysts expect that ARM will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new stake in ARM during the first quarter worth $229,000. Envestnet Asset Management Inc. raised its position in ARM by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,124 shares of the company's stock worth $5,320,000 after acquiring an additional 353 shares in the last quarter. Geode Capital Management LLC raised its position in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company's stock worth $13,388,000 after acquiring an additional 848 shares in the last quarter. Spire Wealth Management raised its position in ARM by 15.7% during the first quarter. Spire Wealth Management now owns 1,174 shares of the company's stock worth $125,000 after acquiring an additional 159 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in ARM by 85.7% during the first quarter. Farther Finance Advisors LLC now owns 1,616 shares of the company's stock worth $173,000 after acquiring an additional 746 shares in the last quarter. Institutional investors own 7.53% of the company's stock.

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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