Arm Holdings plc (NASDAQ:ARM) Holdings Lifted by Convergence Financial LLC

Convergence Financial LLC boosted its holdings in Arm Holdings plc (NASDAQ:ARM) by 7.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,855 shares of the company’s stock after purchasing an additional 454 shares during the quarter. Convergence Financial LLC’s holdings in ARM were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of ARM by 5.4% in 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 in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of ARM during the fourth quarter worth $382,000. Pine Valley Investments Ltd Liability Co raised its position in shares of ARM by 103.0% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 3,094 shares of the company’s stock worth $382,000 after purchasing an additional 1,570 shares during the period. Prasad Wealth Partners LLC purchased a new stake in shares of ARM during the fourth quarter valued at $999,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of ARM in the 4th quarter valued at $471,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ARM. The Goldman Sachs Group increased their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of ARM in a report on Thursday, February 6th. TD Cowen boosted their target price on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Finally, Mizuho lifted their price target on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.83.

ARM Trading Up 1.7 %

Shares of ARM stock opened at $138.97 on Thursday. The firm has a market capitalization of $145.62 billion, a P/E ratio of 182.86, a price-to-earnings-growth ratio of 6.33 and a beta of 4.56. Arm Holdings plc has a 1 year low of $85.61 and a 1 year high of $188.75. The firm’s fifty day simple moving average is $147.48 and its 200 day simple moving average is $141.93.

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.