Wells Fargo & Company Initiates Coverage on ARM (NASDAQ:ARM)

Wells Fargo & Company assumed coverage on shares of ARM (NASDAQ:ARM) in a report released on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $155.00 price target on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.67% from the stock’s current price.

Several other research analysts also recently weighed in on ARM. Susquehanna lifted their target price on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research note on Monday, July 29th. HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $149.86.

ARM Price Performance

Shares of ARM opened at $132.85 on Friday. The firm’s 50 day moving average is $143.52 and its 200-day moving average is $140.20. The stock has a market capitalization of $139.20 billion, a P/E ratio of 221.42, a P/E/G ratio of 6.64 and a beta of 5.40. ARM has a 12-month low of $59.00 and a 12-month high of $188.75.

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

Institutional Investors Weigh In On ARM

Hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of ARM during the 2nd quarter worth about $33,000. ORG Partners LLC acquired a new stake in shares of ARM during the 3rd quarter worth about $29,000. RiverPark Advisors LLC increased its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of ARM during the 2nd quarter worth about $41,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of ARM by 83.0% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds 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.