Pictet Asset Management Holding SA Makes New Investment in Arm Holdings plc (NASDAQ:ARM)

Pictet Asset Management Holding SA purchased a new position in Arm Holdings plc (NASDAQ:ARM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,790 shares of the company’s stock, valued at approximately $1,701,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in 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 during the last quarter. Modus Advisors LLC increased its stake in shares of ARM by 300.2% in the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after acquiring an additional 13,453 shares during the period. XTX Topco Ltd raised its holdings in shares of 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in ARM by 89.3% during 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. Finally, Franklin Resources Inc. boosted its holdings 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 purchasing an additional 228,467 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARM. Wells Fargo & Company lifted their price objective on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Citigroup boosted their target price on shares of ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on shares of ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Mizuho upped their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.41.

ARM Trading Down 10.2 %

ARM stock opened at $87.71 on Friday. The company has a market cap of $91.91 billion, a price-to-earnings ratio of 115.41, a PEG ratio of 6.33 and a beta of 4.77. The firm has a 50-day moving average of $133.89 and a two-hundred day moving average of $139.28. Arm Holdings plc has a 12 month low of $84.39 and a 12 month high of $188.75.

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.