Primecap Management Co. CA Sells 22,870 Shares of Arm Holdings plc (NASDAQ:ARM)

Primecap Management Co. CA decreased its position in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 546,620 shares of the company's stock after selling 22,870 shares during the period. Primecap Management Co. CA owned 0.05% of ARM worth $67,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tufton Capital Management raised its position in shares of ARM by 1.5% during 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 during the last quarter. Valley National Advisers Inc. raised its position 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. Zullo Investment Group Inc. raised its position in shares of ARM by 4.6% during the fourth quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company's stock valued at $236,000 after buying an additional 85 shares during the last quarter. Cibc World Markets Corp raised its position in shares of ARM by 3.5% during the fourth quarter. Cibc World Markets Corp now owns 2,838 shares of the company's stock valued at $350,000 after buying an additional 96 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC raised its position in shares of ARM by 3.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company's stock valued at $409,000 after buying an additional 98 shares during the last quarter. Institutional investors own 7.53% of the company's stock.

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ARM Stock Performance

Shares of ARM stock remained flat at $119.07 on Friday. The company had a trading volume of 2,549,868 shares, compared to its average volume of 7,581,328. The business has a 50 day moving average price of $142.75 and a 200 day moving average price of $140.75. The company has a market capitalization of $124.77 billion, a P/E ratio of 156.67, a PEG ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a 12-month low of $85.61 and a 12-month high of $188.75.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARM. UBS Group began coverage on shares of ARM in a research report on Monday, November 25th. They set a "buy" rating and a $160.00 price objective on the stock. Mizuho raised their target price on shares of ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Rosenblatt Securities raised their target price on shares of ARM from $180.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Benchmark reissued a "hold" rating on shares of ARM in a report on Thursday, February 6th. Finally, Jefferies Financial Group raised their target price on shares of ARM from $170.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ARM presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.23.

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.