Arm Holdings plc (NASDAQ:ARM) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Arm Holdings plc (NASDAQ:ARM) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,300 shares of the company’s stock after purchasing an additional 5,440 shares during the quarter. Bank of New York Mellon Corp’s holdings in ARM were worth $12,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its position in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares during the period. Zullo Investment Group Inc. increased its stake in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after acquiring an additional 85 shares during the last quarter. Gladstone Institutional Advisory LLC increased its stake in shares of ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after acquiring an additional 98 shares during the last quarter. Hobbs Group Advisors LLC lifted its holdings in shares of ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after acquiring an additional 100 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its position in shares of ARM by 5.5% in the third quarter. Great Valley Advisor Group Inc. now owns 1,963 shares of the company’s stock worth $281,000 after acquiring an additional 102 shares during the last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARM has been the subject of several research analyst reports. Loop Capital upped their price target on shares of ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. The Goldman Sachs Group increased their target price on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Evercore ISI lifted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays upped their price target on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Citigroup lifted their price objective on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARM presently has an average rating of “Moderate Buy” and an average price target of $165.23.

ARM Stock Performance

NASDAQ:ARM opened at $112.70 on Thursday. The stock has a market cap of $118.09 billion, a price-to-earnings ratio of 148.29, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a one year low of $85.61 and a one year high of $188.75. The business’s 50-day simple moving average is $146.05 and its 200 day simple moving average is $141.43.

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.