Van ECK Associates Corp Acquires 7,047 Shares of Arm Holdings plc (NASDAQ:ARM)

Van ECK Associates Corp grew its holdings in Arm Holdings plc (NASDAQ:ARM) by 259.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,761 shares of the company’s stock after acquiring an additional 7,047 shares during the quarter. Van ECK Associates Corp’s holdings in ARM were worth $1,204,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ARM. Quantbot Technologies LP bought a new position in shares of ARM during the third quarter worth about $52,000. Berbice Capital Management LLC bought a new position in shares of ARM during the fourth quarter worth about $49,000. Farther Finance Advisors LLC grew its holdings in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after buying an additional 131 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of ARM by 71.7% during the third quarter. Valley National Advisers Inc. now owns 541 shares of the company’s stock worth $77,000 after buying an additional 226 shares in the last quarter. Finally, MCF Advisors LLC bought a new position in shares of ARM during the fourth quarter worth about $83,000. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

Shares of ARM opened at $144.87 on Friday. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75. The business’s fifty day moving average is $147.65 and its 200-day moving average is $141.22. The firm has a market cap of $151.80 billion, a price-to-earnings ratio of 190.62, a PEG ratio of 6.75 and a beta of 4.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup raised their price target on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. TD Cowen raised their price target on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark restated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Finally, Barclays raised their price target on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

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.