ARM (NASDAQ:ARM) Price Target Raised to $175.00 at Wells Fargo & Company

ARM (NASDAQ:ARM) had its price target increased by equities researchers at Wells Fargo & Company from $165.00 to $175.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.23% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Susquehanna raised ARM from a “neutral” rating to a “positive” rating and set a $150.00 target price for the company in a research note on Wednesday, January 21st. New Street Research upgraded ARM from a “neutral” rating to a “buy” rating in a report on Thursday, February 5th. UBS Group lowered their price objective on ARM from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Barclays reissued an “overweight” rating and set a $165.00 price objective on shares of ARM in a report on Thursday, March 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, February 5th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.58.

ARM Price Performance

Shares of ARM stock traded up $3.27 during trading hours on Wednesday, reaching $154.55. 4,466,704 shares of the company were exchanged, compared to its average volume of 6,859,250. ARM has a fifty-two week low of $80.00 and a fifty-two week high of $183.16. The stock’s fifty day moving average is $123.98 and its two-hundred day moving average is $134.04. The company has a market cap of $163.28 billion, a price-to-earnings ratio of 205.99, a P/E/G ratio of 8.65 and a beta of 4.11.

ARM (NASDAQ:ARM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. ARM had a net margin of 17.15% and a return on equity of 14.01%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $0.39 earnings per share. ARM’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, research analysts anticipate that ARM will post 0.9 earnings per share for the current year.

Insider Transactions at ARM

In related news, CFO Jason Child sold 21,280 shares of the company’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $148.37, for a total value of $3,157,313.60. Following the completion of the sale, the chief financial officer owned 174,706 shares in the company, valued at approximately $25,921,129.22. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rene A. Haas sold 7,986 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $160.86, for a total value of $1,284,627.96. Following the completion of the transaction, the chief executive officer directly owned 282,979 shares in the company, valued at $45,520,001.94. The trade was a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,133 shares of company stock valued at $8,288,586 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARM. Morgan Stanley increased its stake in ARM by 1.2% in the fourth quarter. Morgan Stanley now owns 3,783,006 shares of the company’s stock valued at $413,521,000 after purchasing an additional 45,314 shares in the last quarter. Invesco Ltd. boosted its position in shares of ARM by 36.9% during the fourth quarter. Invesco Ltd. now owns 2,426,850 shares of the company’s stock worth $265,279,000 after purchasing an additional 654,727 shares in the last quarter. Coatue Management LLC boosted its position in shares of ARM by 1.8% during the fourth quarter. Coatue Management LLC now owns 2,300,000 shares of the company’s stock worth $251,413,000 after purchasing an additional 40,174 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of ARM by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 2,149,159 shares of the company’s stock valued at $234,925,000 after buying an additional 631,576 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of ARM by 11.0% in the 4th quarter. Schroder Investment Management Group now owns 1,891,310 shares of the company’s stock valued at $206,739,000 after buying an additional 187,035 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Company Profile

Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.

Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.