Franklin Resources Inc. Decreases Holdings in Arm Holdings plc (NASDAQ:ARM)

Franklin Resources Inc. reduced its holdings in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 926,639 shares of the company's stock after selling 354,845 shares during the quarter. Franklin Resources Inc. owned 0.09% of ARM worth $114,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tufton Capital Management boosted its position in ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company's stock valued at $546,000 after buying an additional 65 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of ARM by 13.3% in the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after acquiring an additional 72 shares during the last quarter. Zullo Investment Group Inc. grew its position in ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock worth $236,000 after acquiring an additional 85 shares during the last quarter. Cibc World Markets Corp increased its holdings in ARM by 3.5% in the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock worth $350,000 after purchasing an additional 96 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC raised its position in ARM by 3.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company's stock valued at $409,000 after purchasing an additional 98 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

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ARM Stock Down 10.2 %

ARM stock traded down $10.01 during trading on Friday, reaching $87.71. The stock had a trading volume of 12,468,538 shares, compared to its average volume of 7,519,907. Arm Holdings plc has a one year low of $84.39 and a one year high of $188.75. The company's 50 day moving average is $133.89 and its two-hundred day moving average is $139.30. The company has a market capitalization of $91.91 billion, a price-to-earnings ratio of 115.41, a P/E/G ratio of 6.33 and a beta of 4.48.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Rosenblatt Securities upped their price target on shares of ARM from $180.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Loop Capital raised their price target on shares of ARM from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Raymond James boosted their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered their target price on ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.41.

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.