Allworth Financial LP Boosts Position in Arm Holdings plc (NASDAQ:ARM)

Allworth Financial LP increased its stake in Arm Holdings plc (NASDAQ:ARM) by 94.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,023 shares of the company’s stock after buying an additional 497 shares during the period. Allworth Financial LP’s holdings in ARM were worth $126,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. Rheos Capital Works Inc. increased its position in ARM by 29.6% during the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after purchasing an additional 56,000 shares during the period. State Street Corp increased its position in ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after purchasing an additional 35,720 shares during the period. Cibc World Market Inc. increased its position in ARM by 18.9% during the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock valued at $27,091,000 after purchasing an additional 34,847 shares during the period. Finally, SG Americas Securities LLC purchased a new position in ARM during the 4th quarter valued at about $22,705,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Down 4.0 %

ARM opened at $144.87 on Monday. The firm has a market capitalization of $151.80 billion, a P/E ratio of 190.62, a price-to-earnings-growth ratio of 6.60 and a beta of 4.57. The stock’s 50 day moving average price is $147.65 and its two-hundred day moving average price is $141.65. Arm Holdings plc has a 12-month low of $85.61 and a 12-month high of $188.75.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARM. TD Cowen lifted their price objective on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Loop Capital lifted their target price on shares of ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. The Goldman Sachs Group lifted their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. UBS Group assumed coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.83.

ARM 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.