Virtu Financial LLC Purchases 59,846 Shares of Arm Holdings plc (NASDAQ:ARM)

Virtu Financial LLC lifted its holdings in shares of Arm Holdings plc (NASDAQ:ARM - Free Report) by 735.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,980 shares of the company's stock after purchasing an additional 59,846 shares during the quarter. ARM makes up about 0.4% of Virtu Financial LLC's holdings, making the stock its 24th biggest position. Virtu Financial LLC's holdings in ARM were worth $8,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company's stock valued at $12,990,000 after buying an additional 5,440 shares during the last quarter. Modus Advisors LLC boosted its stake in ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company's stock worth $2,212,000 after buying an additional 13,453 shares in the last quarter. XTX Topco Ltd increased its holdings in ARM by 150.1% in the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company's stock valued at $928,000 after buying an additional 3,893 shares during the period. Avalon Global Asset Management LLC acquired a new position in shares of ARM in the 3rd quarter valued at $8,581,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ARM by 89.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company's stock worth $2,640,000 after acquiring an additional 8,707 shares during the period. Institutional investors own 7.53% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group raised their price target on shares of ARM from $170.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on ARM from $159.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Citigroup raised 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. Finally, Raymond James upped their target price on shares of ARM from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.23.

ARM Trading Down 0.7 %

ARM stock traded down $0.92 during mid-day trading on Tuesday, hitting $123.93. The stock had a trading volume of 981,300 shares, compared to its average volume of 7,570,551. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75. The firm has a fifty day simple moving average of $142.51 and a 200 day simple moving average of $141.02. The firm has a market capitalization of $129.86 billion, a P/E ratio of 163.15, a P/E/G ratio of 6.33 and a beta of 4.77.

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.