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

ARM (NASDAQ:ARM) had its target price boosted by research analysts at Wells Fargo & Company from $100.00 to $115.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock.

Other research analysts have also recently issued research reports about the company. KeyCorp increased their price objective on ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Susquehanna reissued a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Mizuho boosted their price objective on ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. BNP Paribas cut ARM from an “outperform” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Friday, April 19th. Finally, Daiwa Capital Markets cut ARM from a “buy” rating to a “neutral” rating and raised their target price for the company from $63.00 to $130.00 in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of 92.08.

ARM Stock Up 1.0 %

Shares of ARM stock traded up 0.98 during trading on Monday, hitting 102.93. 3,087,971 shares of the stock were exchanged, compared to its average volume of 14,471,194. ARM has a 12 month low of 46.50 and a 12 month high of 164.00. The stock’s fifty day moving average is 125.07 and its 200 day moving average is 88.36.

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

Hedge Funds Weigh In On ARM

Hedge funds have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd boosted its holdings in shares of ARM by 14.8% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock valued at $195,000 after buying an additional 200 shares during the period. SOA Wealth Advisors LLC. bought a new stake in shares of ARM in the 1st quarter worth approximately $35,000. PNC Financial Services Group Inc. raised its holdings in shares of ARM by 47.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after purchasing an additional 494 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of ARM during the third quarter valued at approximately $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ARM by 49.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after acquiring an additional 514 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

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.