Prasad Wealth Partners LLC Takes $999,000 Position in Arm Holdings plc (NASDAQ:ARM)

Prasad Wealth Partners LLC purchased a new stake in shares of Arm Holdings plc (NASDAQ:ARM) during the 4th quarter, HoldingsChannel reports. The fund purchased 8,099 shares of the company’s stock, valued at approximately $999,000.

Several other hedge funds also recently modified their holdings of ARM. Valley National Advisers Inc. boosted its stake in shares of ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after acquiring an additional 72 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock worth $236,000 after acquiring an additional 85 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock worth $409,000 after acquiring an additional 98 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ARM by 1.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $1,359,000 after acquiring an additional 100 shares in the last quarter. Finally, Hobbs Group Advisors LLC boosted its stake in shares of ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after acquiring an additional 100 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Stock Performance

NASDAQ ARM opened at $140.53 on Tuesday. The firm has a 50-day simple moving average of $147.56 and a 200 day simple moving average of $141.81. Arm Holdings plc has a twelve month low of $85.61 and a twelve month high of $188.75. The stock has a market cap of $147.25 billion, a PE ratio of 184.91, a PEG ratio of 6.33 and a beta of 4.56.

Analyst Ratings Changes

ARM has been the subject of several research reports. JPMorgan Chase & Co. raised 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. Barclays raised their target price on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Citigroup raised their target price on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, UBS Group started coverage on ARM in a research report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $162.83.

ARM Company 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.