Sumitomo Mitsui Trust Group Inc. Sells 1,993 Shares of Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Arm Holdings plc (NASDAQ:ARM) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,494 shares of the company’s stock after selling 1,993 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ARM were worth $3,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Telligent Fund LP bought a new position in shares of ARM in the 4th quarter valued at approximately $3,331,000. Silver Oak Securities Incorporated grew its holdings in ARM by 578.0% in the 4th quarter. Silver Oak Securities Incorporated now owns 6,319 shares of the company’s stock valued at $796,000 after buying an additional 5,387 shares during the last quarter. RFG Holdings Inc. grew its holdings in ARM by 80.7% in the 4th quarter. RFG Holdings Inc. now owns 2,725 shares of the company’s stock valued at $336,000 after buying an additional 1,217 shares during the last quarter. Renaissance Capital LLC grew its holdings in ARM by 0.7% in the 4th quarter. Renaissance Capital LLC now owns 105,802 shares of the company’s stock valued at $13,052,000 after buying an additional 690 shares during the last quarter. Finally, Rheos Capital Works Inc. grew its holdings in ARM by 29.6% in the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after buying an additional 56,000 shares during the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Price Performance

Shares of NASDAQ:ARM opened at $164.83 on Friday. The business’s fifty day moving average price is $145.73 and its two-hundred day moving average price is $139.90. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The stock has a market capitalization of $172.71 billion, a price-to-earnings ratio of 216.88, a price-to-earnings-growth ratio of 7.83 and a beta of 4.57.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group raised their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Rosenblatt Securities raised their target price on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price on the stock. in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Evercore ISI raised 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.83.

ARM Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.