Wells Fargo & Company MN Purchases 1,160 Shares of Arm Holdings plc (NASDAQ:ARM)

Wells Fargo & Company MN lifted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,721 shares of the company’s stock after buying an additional 1,160 shares during the quarter. Wells Fargo & Company MN’s holdings in ARM were worth $41,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of ARM by 5.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,265 shares of the company’s stock worth $526,000 after buying an additional 205 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in ARM during the fourth quarter valued at about $2,561,000. Geode Capital Management LLC boosted its position in ARM by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 108,531 shares of the company’s stock valued at $13,388,000 after purchasing an additional 848 shares in the last quarter. National Bank of Canada FI boosted its position in ARM by 194.3% during the fourth quarter. National Bank of Canada FI now owns 27,080 shares of the company’s stock valued at $3,341,000 after purchasing an additional 17,877 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in ARM by 9.6% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,985 shares of the company’s stock valued at $492,000 after purchasing an additional 348 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Up 24.2 %

ARM stock opened at $106.59 on Thursday. The firm has a market cap of $111.69 billion, a price-to-earnings ratio of 140.25, a price-to-earnings-growth ratio of 6.33 and a beta of 4.48. Arm Holdings plc has a 52 week low of $80.00 and a 52 week high of $188.75. The business’s 50-day moving average price is $128.25 and its 200 day moving average price is $137.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley decreased their price target on ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Cfra Research upgraded ARM to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased their price target on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ARM has an average rating of “Moderate Buy” and an average price target of $164.76.

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.