Loomis Sayles & Co. L P Sells 42,176 Shares of Arm Holdings plc (NASDAQ:ARM)

Loomis Sayles & Co. L P cut its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 854,524 shares of the company’s stock after selling 42,176 shares during the quarter. Loomis Sayles & Co. L P’s holdings in ARM were worth $105,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its position in ARM by 48.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,651,489 shares of the company’s stock worth $327,088,000 after purchasing an additional 860,716 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of ARM by 4,506.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after buying an additional 791,392 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ARM during the 4th quarter worth approximately $32,655,000. Franklin Resources Inc. increased its stake in 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. Finally, American Century Companies Inc. raised its position in ARM by 200.9% during the fourth quarter. American Century Companies Inc. now owns 331,284 shares of the company’s stock valued at $40,867,000 after purchasing an additional 221,203 shares in the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

ARM Trading Down 7.5 %

Shares of ARM stock opened at $114.93 on Thursday. The company has a market cap of $120.43 billion, a P/E ratio of 151.23, a PEG ratio of 6.33 and a beta of 4.77. The business has a 50-day moving average price of $141.54 and a two-hundred day moving average price of $140.89. Arm Holdings plc has a 1-year low of $85.61 and a 1-year high of $188.75.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Evercore ISI lifted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Rosenblatt Securities increased their target price on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Loop Capital increased their price objective on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.23.

About ARM

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.