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

ARM (NASDAQ:ARM) had its price target lowered by Wells Fargo & Company from $150.00 to $145.00 in a report issued on Thursday morning, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

ARM has been the subject of several other research reports. Evercore ISI upped their price objective on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of ARM in a research note on Thursday. Bank of America cut their target price on ARM from $180.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Citigroup lifted their target price on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.67.

ARM Stock Performance

Shares of ARM stock opened at $115.87 on Thursday. ARM has a 52-week low of $80.00 and a 52-week high of $188.75. The firm has a market cap of $121.41 billion, a PE ratio of 152.46, a P/E/G ratio of 6.33 and a beta of 4.39. The business’s 50 day simple moving average is $110.45 and its 200 day simple moving average is $132.09.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tufton Capital Management lifted its stake in shares of ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock worth $546,000 after purchasing an additional 65 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after buying an additional 72 shares during the last quarter. Zullo Investment Group Inc. boosted its holdings in shares of ARM by 4.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after buying an additional 85 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of ARM by 53.8% in the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock valued at $32,000 after buying an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp grew its position in shares of ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after buying an additional 96 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

About ARM

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.