ARM (NASDAQ:ARM) Price Target Lowered to $145.00 at Wells Fargo & Company

ARM (NASDAQ:ARM) had its price target cut by Wells Fargo & Company from $150.00 to $145.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 25.14% from the company’s previous close.

ARM has been the topic of several other reports. Guggenheim cut their target price on shares of ARM from $180.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI upped their price target on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their target price on ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Mizuho upped their target price on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Raymond James boosted their price target on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.67.

ARM Stock Down 0.6 %

Shares of ARM stock opened at $115.87 on Thursday. The firm has a market cap of $121.41 billion, a P/E ratio of 152.46, a P/E/G ratio of 6.33 and a beta of 4.39. ARM has a fifty-two week low of $80.00 and a fifty-two week high of $188.75. The business has a 50-day moving average price of $110.45 and a 200 day moving average price of $132.16.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. ARM had a return on equity of 11.94% and a net margin of 21.82%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that ARM will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tufton Capital Management raised its stake in ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after buying an additional 65 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after buying an additional 72 shares in the last quarter. Zullo Investment Group Inc. grew its position in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock worth $236,000 after purchasing an additional 85 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after acquiring an additional 92 shares during the period. Finally, Cibc World Markets Corp grew its stake in ARM by 3.5% during the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after buying an additional 96 shares in the last quarter. Hedge funds and other 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.