Kingsview Wealth Management LLC Has $342,000 Stock Position in Arm Holdings plc (NASDAQ:ARM)

Kingsview Wealth Management LLC raised its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 14.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,773 shares of the company’s stock after buying an additional 350 shares during the period. Kingsview Wealth Management LLC’s holdings in ARM were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after acquiring an additional 806,676 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares during the last quarter. Rheos Capital Works Inc. raised its stake in shares of ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after acquiring an additional 56,000 shares during the last quarter. Finally, State Street Corp raised its stake in shares of ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after acquiring an additional 35,720 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

ARM stock opened at $164.83 on Friday. The firm has a 50-day moving average of $145.73 and a 200-day moving average of $139.90. Arm Holdings plc has a one year low of $85.61 and a one year high of $188.75. The company has a market cap of $172.71 billion, a price-to-earnings ratio of 216.88, a P/E/G ratio of 7.83 and a beta of 4.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARM. Mizuho lifted their target price on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective 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. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Finally, Sanford C. Bernstein cut shares of ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.83.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.