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% during the 4th quarter, HoldingsChannel reports. The firm owned 9,761 shares of the company’s stock after purchasing 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 hedge funds and other institutional investors also recently modified their holdings of the business. Creative Planning grew its position in ARM by 20.2% during the 3rd quarter. Creative Planning now owns 37,982 shares of the company’s stock worth $5,432,000 after acquiring an additional 6,381 shares during the last quarter. Blue Trust Inc. raised its stake in ARM by 13.1% during the 3rd quarter. Blue Trust Inc. now owns 1,463 shares of the company’s stock worth $209,000 after buying an additional 169 shares during the period. Raymond James & Associates raised its stake in ARM by 16.4% during the 3rd quarter. Raymond James & Associates now owns 151,744 shares of the company’s stock worth $21,701,000 after buying an additional 21,360 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new position in ARM during the 3rd quarter worth approximately $332,000. Finally, Convergence Financial LLC raised its stake in ARM by 39.8% during the 3rd quarter. Convergence Financial LLC now owns 6,401 shares of the company’s stock worth $915,000 after buying an additional 1,822 shares during the period. Institutional investors own 7.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARM. UBS Group began coverage on ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. TD Cowen boosted their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of ARM 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 price objective for the company. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.83.

ARM Trading Down 4.0 %

ARM stock opened at $144.87 on Friday. Arm Holdings plc has a 12 month low of $85.61 and a 12 month high of $188.75. The business’s 50 day simple moving average is $147.65 and its 200 day simple moving average is $141.22. The company 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.

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.