ARM (NASDAQ:ARM) Now Covered by Wells Fargo & Company

Wells Fargo & Company began coverage on shares of ARM (NASDAQ:ARM - Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued an overweight rating and a $155.00 price objective on the stock.

ARM has been the topic of several other research reports. HSBC cut shares of ARM from a "hold" rating to a "reduce" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Sanford C. Bernstein cut shares of ARM from a "market perform" rating to an "underperform" rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Benchmark initiated coverage on shares of ARM in a research note on Monday, September 16th. They issued a "hold" rating on the stock. Finally, Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Two equities research 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.86.

ARM Stock Up 2.1 %

ARM stock traded up $2.86 during trading on Friday, hitting $136.00. The stock had a trading volume of 2,615,156 shares, compared to its average volume of 10,656,556. The stock has a market cap of $142.50 billion, a price-to-earnings ratio of 221.75, a price-to-earnings-growth ratio of 6.64 and a beta of 5.40. The stock's 50 day moving average is $143.52 and its two-hundred day moving average is $140.20. ARM has a 1 year low of $60.37 and a 1 year high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million during the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the business posted $0.36 earnings per share. ARM's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that ARM will post 0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On ARM

Several hedge funds have recently added to or reduced their stakes in ARM. RiverPark Advisors LLC grew its stake in shares of ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company's stock worth $40,000 after buying an additional 77 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in ARM by 14.0% during the third quarter. Hexagon Capital Partners LLC now owns 627 shares of the company's stock worth $90,000 after buying an additional 77 shares during the last quarter. BOKF NA grew its holdings in ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company's stock worth $51,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of ARM by 1.1% during the third quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company's stock valued at $1,359,000 after buying an additional 100 shares during the last quarter. Finally, Hobbs Group Advisors LLC lifted its position in shares of ARM by 7.4% during the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company's stock valued at $208,000 after purchasing an additional 100 shares in the last quarter. 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.