Raymond James Financial Inc. Makes New $32.66 Million Investment in Arm Holdings plc (NASDAQ:ARM)

Raymond James Financial Inc. purchased a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 264,707 shares of the company's stock, valued at approximately $32,655,000.

A number of other hedge funds also recently added to or reduced their stakes in ARM. Berbice Capital Management LLC purchased a new stake in shares of ARM during the 4th quarter valued at $49,000. Valley National Advisers Inc. raised its stake in ARM by 13.3% in 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 acquired a new stake in ARM in the fourth quarter worth about $83,000. Farther Finance Advisors LLC increased its holdings in shares of ARM by 108.6% during the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company's stock valued at $107,000 after acquiring an additional 453 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in shares of ARM by 40.1% in the 4th quarter. Harbour Investments Inc. now owns 902 shares of the company's stock valued at $111,000 after purchasing an additional 258 shares during the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Down 0.3 %

Shares of ARM stock traded down $0.27 during midday trading on Friday, hitting $100.73. The company's stock had a trading volume of 3,121,979 shares, compared to its average volume of 7,370,301. Arm Holdings plc has a 1-year low of $80.00 and a 1-year high of $188.75. The stock has a 50-day simple moving average of $119.77 and a 200-day simple moving average of $135.75. The firm has a market capitalization of $105.55 billion, a P/E ratio of 132.54, a PEG ratio of 6.33 and a beta of 4.48.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. KGI Securities began coverage on shares of ARM in a research note on Tuesday. They set a "neutral" rating on the stock. Raymond James raised their price objective on ARM from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Loop Capital upped their price objective 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. Morgan Stanley lowered their price objective on shares of ARM from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Benchmark reissued a "hold" rating on shares of ARM in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given 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 $163.05.

About ARM

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.