Cibc World Market Inc. Acquires 34,847 Shares of Arm Holdings plc (NASDAQ:ARM)

Cibc World Market Inc. boosted its stake in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,613 shares of the company's stock after purchasing an additional 34,847 shares during the quarter. Cibc World Market Inc.'s holdings in ARM were worth $27,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. bought a new position in shares of ARM during the fourth quarter worth approximately $295,000. Smith Group Asset Management LLC acquired a new position in ARM in the 4th quarter valued at $2,961,000. R Squared Ltd bought a new position in ARM during the 4th quarter worth $130,000. Perigon Wealth Management LLC lifted its holdings in shares of ARM by 35.3% during the fourth quarter. Perigon Wealth Management LLC now owns 9,857 shares of the company's stock worth $1,216,000 after buying an additional 2,570 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its position in shares of ARM by 121.2% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 4,840 shares of the company's stock valued at $597,000 after acquiring an additional 2,652 shares during the period. 7.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ARM. JPMorgan Chase & Co. raised their price target on shares of ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. UBS Group started coverage on shares of ARM in a report on Monday, November 25th. They set a "buy" rating and a $160.00 target price on the stock. Loop Capital boosted their price target on ARM from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price objective on ARM from $155.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, Barclays upped their target price on ARM from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.09.

ARM Trading Up 4.1 %

NASDAQ:ARM traded up $6.32 during mid-day trading on Friday, hitting $159.55. 8,002,040 shares of the company's stock were exchanged, compared to its average volume of 6,368,704. Arm Holdings plc has a fifty-two week low of $69.32 and a fifty-two week high of $188.75. The company has a 50 day simple moving average of $141.82 and a 200-day simple moving average of $139.75. The firm has a market capitalization of $167.18 billion, a P/E ratio of 265.92, a PEG ratio of 6.90 and a beta of 4.53.

ARM (NASDAQ:ARM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. ARM's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, analysts expect that Arm Holdings plc will post 0.84 earnings per share for the current year.

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.