Allworth Financial LP Acquires 497 Shares of Arm Holdings plc (NASDAQ:ARM)

Allworth Financial LP lifted its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 94.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,023 shares of the company’s stock after purchasing an additional 497 shares during the quarter. Allworth Financial LP’s holdings in ARM were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the period. Rheos Capital Works Inc. lifted its holdings in ARM by 29.6% during the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after purchasing an additional 56,000 shares during the last quarter. State Street Corp boosted its stake in ARM by 19.2% in 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. grew its holdings in ARM by 18.9% in the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock valued at $27,091,000 after buying an additional 34,847 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in ARM during the 4th quarter worth $22,705,000. 7.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Rosenblatt Securities raised their price objective on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Raymond James upped their target price on ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. UBS Group assumed coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Price Performance

Shares of ARM opened at $144.87 on Monday. The firm has a market capitalization of $151.80 billion, a PE ratio of 190.62, a price-to-earnings-growth ratio of 6.60 and a beta of 4.57. Arm Holdings plc has a 1-year low of $85.61 and a 1-year high of $188.75. The company’s fifty day moving average price is $147.65 and its 200-day moving average price is $141.65.

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.