Pictet Asset Management Holding SA bought a new stake in Arm Holdings plc (NASDAQ:ARM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,790 shares of the company's stock, valued at approximately $1,701,000.
Several other institutional investors also recently made changes to their positions in ARM. Berbice Capital Management LLC bought a new stake in ARM in the 4th quarter valued at about $49,000. Quantbot Technologies LP acquired a new stake in shares of ARM in the third quarter valued at approximately $52,000. Valley National Advisers Inc. raised its holdings in shares of ARM by 13.3% during the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company's stock valued at $75,000 after buying an additional 72 shares during the last quarter. MCF Advisors LLC bought a new stake in shares of ARM during the fourth quarter valued at approximately $83,000. Finally, Farther Finance Advisors LLC boosted its position in shares of ARM by 108.6% during the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock worth $107,000 after buying an additional 453 shares during the period. 7.53% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on ARM. Citigroup lifted their target price on ARM from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Mizuho upped their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Raymond James increased their target price on shares of ARM from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Loop Capital boosted their price target on shares of ARM from $180.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company increased their price objective on shares of ARM from $162.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.41.
Read Our Latest Research Report on ARM
ARM Stock Down 3.2 %
Shares of ARM stock traded down $2.81 during midday trading on Tuesday, hitting $85.82. The company's stock had a trading volume of 8,424,436 shares, compared to its average volume of 7,532,140. Arm Holdings plc has a 1-year low of $80.00 and a 1-year high of $188.75. The firm has a market capitalization of $89.93 billion, a P/E ratio of 112.92, a PEG ratio of 6.33 and a beta of 4.48. The stock has a 50-day simple moving average of $130.24 and a 200-day simple moving average of $138.20.
About ARM
(
Free Report)
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.
Further Reading
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