Lbp Am Sa Buys Shares of 59,400 Arm Holdings plc (NASDAQ:ARM)

Lbp Am Sa purchased a new position in shares of Arm Holdings plc (NASDAQ:ARM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,400 shares of the company’s stock, valued at approximately $7,328,000.

A number of other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 5,440 shares in the last quarter. Modus Advisors LLC increased its holdings in shares of ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares during the last quarter. XTX Topco Ltd boosted its position in ARM by 150.1% during the third quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the period. Avalon Global Asset Management LLC acquired a new position in ARM during the third quarter valued at approximately $8,581,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ARM by 89.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company’s stock valued at $2,640,000 after purchasing an additional 8,707 shares during the period. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARM. Jefferies Financial Group upped their price objective on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Evercore ISI lifted their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup increased 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. Raymond James lifted their price target on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Susquehanna raised their price objective on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $165.23.

ARM Price Performance

ARM stock opened at $117.94 on Friday. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75. The stock has a fifty day moving average price of $145.26 and a two-hundred day moving average price of $141.15. The firm has a market capitalization of $123.58 billion, a P/E ratio of 155.19, a P/E/G ratio of 6.33 and a beta of 4.77.

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.