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

Wells Fargo & Company started coverage on shares of ARM (NASDAQ:ARM) in a research report released on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $155.00 price target on the stock.

A number of other analysts also recently commented on ARM. HSBC downgraded ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Hsbc Global Res raised ARM to a “moderate sell” rating in a report on Monday, July 29th. Susquehanna increased their price target on shares of ARM from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair began coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Citigroup raised their target price on ARM from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.86.

ARM Stock Performance

NASDAQ:ARM opened at $135.99 on Friday. The firm has a market cap of $142.49 billion, a P/E ratio of 226.65, a P/E/G ratio of 6.64 and a beta of 5.40. The firm’s fifty day moving average is $143.30 and its 200-day moving average is $140.40. ARM has a 52 week low of $60.37 and a 52 week high of $188.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARM. Virtu Financial LLC purchased a new stake in ARM during the third quarter valued at approximately $1,163,000. Hobbs Group Advisors LLC grew its position in shares of ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares during the period. Fortem Financial Group LLC increased its stake in shares of ARM by 6.4% in the 3rd quarter. Fortem Financial Group LLC now owns 7,200 shares of the company’s stock worth $1,030,000 after purchasing an additional 430 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in ARM by 45.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,675 shares of the company’s stock worth $383,000 after purchasing an additional 835 shares during the period. Finally, Toronto Dominion Bank purchased a new position in ARM during the third quarter valued at $254,000. Institutional investors 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.