NewEdge Advisors LLC Reduces Stock Position in Arm Holdings plc (NASDAQ:ARM)

NewEdge Advisors LLC lowered its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 36,508 shares of the company’s stock after selling 1,400 shares during the quarter. NewEdge Advisors LLC’s holdings in ARM were worth $4,504,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Artisan Partners Limited Partnership grew its position in shares of ARM by 48.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after acquiring an additional 860,716 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in ARM by 4,506.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after purchasing an additional 791,392 shares during the period. Schroder Investment Management Group increased its stake in ARM by 17.9% during the fourth quarter. Schroder Investment Management Group now owns 3,054,331 shares of the company’s stock valued at $376,782,000 after purchasing an additional 464,719 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ARM during the fourth quarter worth $32,655,000. Finally, Franklin Resources Inc. boosted its holdings in shares of ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARM. JPMorgan Chase & Co. raised their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. The Goldman Sachs Group raised their price target on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Susquehanna upped their price objective on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America cut their target price on ARM from $180.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley lowered their price target on shares of ARM from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, six have given 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.20.

ARM Price Performance

Shares of ARM opened at $100.73 on Friday. Arm Holdings plc has a one year low of $80.00 and a one year high of $188.75. The company has a 50-day moving average of $119.77 and a two-hundred day moving average of $135.75. The stock has a market cap of $105.55 billion, a price-to-earnings ratio of 132.54, a PEG ratio of 6.33 and a beta of 4.48.

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.