Truist Financial Corp Purchases Shares of 4,084 Arm Holdings plc (NASDAQ:ARM)

Truist Financial Corp bought a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,084 shares of the company's stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in ARM by 21.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company's stock valued at $183,265,000 after purchasing an additional 228,467 shares during the period. SG Americas Securities LLC purchased a new position in shares of ARM in the fourth quarter worth $22,705,000. UNICOM Systems Inc. bought a new position in shares of ARM during the fourth quarter worth $13,673,000. Erste Asset Management GmbH purchased a new position in ARM during the third quarter valued at $11,646,000. Finally, Avalon Global Asset Management LLC bought a new stake in ARM in the 3rd quarter valued at $8,581,000. Institutional investors own 7.53% of the company's stock.

ARM Stock Up 1.9 %

ARM stock traded up $2.29 during trading on Wednesday, hitting $124.78. 4,592,386 shares of the company's stock traded hands, compared to its average volume of 6,396,223. The business has a fifty day simple moving average of $147.00 and a two-hundred day simple moving average of $141.95. The firm has a market capitalization of $130.75 billion, a P/E ratio of 164.19, a PEG ratio of 6.33 and a beta of 4.57. Arm Holdings plc has a 1 year low of $85.61 and a 1 year high of $188.75.

Analyst Ratings Changes

Several research analysts have commented on the stock. Loop Capital increased their price objective on shares of ARM from $180.00 to $195.00 and gave the company a "buy" rating in a report on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on ARM from $160.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research report on Thursday, February 6th. TD Cowen upped their price target on shares of ARM from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on shares of ARM from $162.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ARM currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.23.

ARM 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.