NewEdge Wealth LLC Has $1.27 Million Stock Position in Arm Holdings plc (NASDAQ:ARM)

NewEdge Wealth LLC lessened its position in Arm Holdings plc (NASDAQ:ARM) by 13.5% in the fourth quarter, HoldingsChannel reports. The fund owned 10,283 shares of the company’s stock after selling 1,609 shares during the quarter. NewEdge Wealth LLC’s holdings in ARM were worth $1,269,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price target on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. TD Cowen increased their price objective on shares of ARM from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays boosted their target price on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Evercore ISI increased their price target on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $165.23.

ARM Trading Up 1.0 %

ARM opened at $131.69 on Friday. The company has a 50 day moving average of $147.44 and a 200 day moving average of $142.08. Arm Holdings plc has a 12 month low of $85.61 and a 12 month high of $188.75. The company has a market cap of $137.99 billion, a PE ratio of 173.28, a price-to-earnings-growth ratio of 6.33 and a beta of 4.56.

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.