ARM (NASDAQ:ARM) Price Target Increased to $115.00 by Analysts at Wells Fargo & Company

ARM (NASDAQ:ARM) had its price objective lifted by Wells Fargo & Company from $100.00 to $115.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the stock.

ARM has been the topic of a number of other reports. BNP Paribas downgraded ARM from an outperform rating to a neutral rating and set a $100.00 price target on the stock. in a report on Friday, April 19th. JPMorgan Chase & Co. lifted their price target on ARM from $70.00 to $100.00 and gave the company an overweight rating in a report on Thursday, February 8th. Mizuho lifted their price target on ARM from $100.00 to $160.00 and gave the company a buy rating in a report on Thursday, March 7th. The Goldman Sachs Group lifted their price target on ARM from $95.00 to $108.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, New Street Research reiterated a neutral rating and issued a $110.00 price target on shares of ARM in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of 92.08.

ARM Stock Up 1.3 %

Shares of NASDAQ ARM opened at 103.24 on Monday. The business has a fifty day simple moving average of 124.56 and a two-hundred day simple moving average of 88.73. ARM has a twelve month low of 46.50 and a twelve month high of 164.00.

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

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently modified their holdings of the stock. CloudAlpha Capital Management Limited Hong Kong acquired a new position in ARM in the 1st quarter worth about $1,000,000. Gainplan LLC acquired a new position in ARM in the 1st quarter worth about $250,000. Schnieders Capital Management LLC acquired a new position in ARM in the 1st quarter worth about $238,000. Cambridge Investment Research Advisors Inc. raised its holdings in ARM by 152.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 56,171 shares of the company’s stock worth $7,021,000 after purchasing an additional 33,961 shares during the period. Finally, Elite Wealth Management Inc. acquired a new position in ARM in the 1st quarter worth about $2,733,000. 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.