ARM (NASDAQ:ARM) Price Target Raised to $162.00

ARM (NASDAQ:ARM) had its price objective upped by Wells Fargo & Company from $155.00 to $162.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

ARM has been the topic of a number of other research reports. Benchmark began coverage on shares of ARM in a research note on Monday, September 16th. They set a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Sanford C. Bernstein lowered shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of ARM from $144.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on ARM from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.64.

ARM Stock Performance

ARM stock opened at $147.40 on Monday. The firm’s 50-day moving average is $137.34 and its 200-day moving average is $141.38. ARM has a 1 year low of $66.66 and a 1 year high of $188.75. The company has a market cap of $154.45 billion, a P/E ratio of 245.67, a PEG ratio of 7.15 and a beta of 4.53.

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

Institutional Investors Weigh In On ARM

A number of institutional investors have recently added to or reduced their stakes in the stock. HB Wealth Management LLC grew its holdings in shares of ARM by 121.7% in the 4th quarter. HB Wealth Management LLC now owns 6,051 shares of the company’s stock worth $747,000 after purchasing an additional 3,322 shares during the last quarter. Westend Capital Management LLC grew its position in shares of ARM by 0.7% in the 4th quarter. Westend Capital Management LLC now owns 82,901 shares of the company’s stock valued at $10,227,000 after purchasing an additional 572 shares during the period. B & T Capital Management DBA Alpha Capital Management raised its holdings in shares of ARM by 79.5% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 3,896 shares of the company’s stock worth $481,000 after acquiring an additional 1,725 shares during the period. Empirical Asset Management LLC grew its holdings in shares of ARM by 2.4% during the fourth quarter. Empirical Asset Management LLC now owns 8,525 shares of the company’s stock worth $1,052,000 after buying an additional 200 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in ARM in the fourth quarter valued at $2,320,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.