Truist Financial Corp Takes $504,000 Position in Arm Holdings plc (NASDAQ:ARM)

Truist Financial Corp bought a new stake in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,084 shares of the company’s stock, valued at approximately $504,000.

A number of other large investors also recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in ARM in the third quarter worth approximately $52,000. Berbice Capital Management LLC bought a new stake in ARM during the fourth quarter worth approximately $49,000. Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 131 shares during the period. Valley National Advisers Inc. boosted its position in ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares during the period. Finally, MCF Advisors LLC bought a new stake in ARM during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

Shares of ARM stock opened at $121.10 on Tuesday. The firm has a market cap of $126.89 billion, a P/E ratio of 159.34, a P/E/G ratio of 6.33 and a beta of 4.57. The firm has a 50 day simple moving average of $147.32 and a 200 day simple moving average of $142.12. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ARM shares. Barclays upped their target price on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Wells Fargo & Company upped their target price on ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, February 6th. UBS Group started coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 target price for the company. Finally, Benchmark reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARM presently has an average rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Company Profile

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.