Wells Fargo & Company Boosts ARM (NASDAQ:ARM) Price Target to $115.00

ARM (NASDAQ:ARM) had its price target upped by Wells Fargo & Company from $100.00 to $115.00 in a report issued on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Rosenblatt Securities raised their price objective on ARM from $140.00 to $180.00 and gave the stock a buy rating in a report on Monday, February 26th. TD Cowen raised their price target on ARM from $80.00 to $95.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Barclays raised their price target on ARM from $65.00 to $105.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Susquehanna reissued a neutral rating and set a $85.00 price target on shares of ARM in a report on Thursday, April 4th. Finally, New Street Research reaffirmed a neutral rating and issued a $110.00 price objective on shares of ARM in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of 92.08.

ARM Stock Up 1.3 %

Shares of ARM stock opened at 103.24 on Monday. The stock’s 50-day moving average is 124.56 and its two-hundred day moving average is 88.73. ARM has a 1 year low of 46.50 and a 1 year high of 164.00.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.04. The firm had revenue of 824.00 million for the quarter, compared to analysts’ expectations of 762.50 million. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts forecast that ARM will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On ARM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new position in ARM in the 3rd quarter valued at $219,000. Robeco Schweiz AG acquired a new position in ARM in the 3rd quarter valued at $35,591,000. American Century Companies Inc. acquired a new position in ARM in the 3rd quarter valued at $54,800,000. Citigroup Inc. acquired a new position in ARM in the 3rd quarter valued at $344,000. Finally, UG Investment Advisers Ltd. acquired a new position in ARM in the 3rd quarter valued at $3,568,000. Hedge funds and other 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.