OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Arm Holdings plc (NASDAQ:ARM) by 72.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,365 shares of the company’s stock after selling 9,019 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ARM were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARM. Bank Julius Baer & Co. Ltd Zurich lifted its stake in ARM by 4,506.5% in the fourth 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in ARM in the fourth quarter valued at approximately $32,655,000. Franklin Resources Inc. lifted 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 buying an additional 228,467 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ARM in the fourth quarter valued at approximately $22,705,000. Finally, Wellington Shields Capital Management LLC lifted its stake in ARM by 12,236.0% in the fourth quarter. Wellington Shields Capital Management LLC now owns 185,040 shares of the company’s stock valued at $22,827,000 after buying an additional 183,540 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ARM. Rosenblatt Securities upped their price target on ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Susquehanna upped their price target on ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup upped their price target on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Raymond James upped their price target on ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Evercore ISI upped their price target on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Stock Up 1.0 %

Shares of ARM stock opened at $119.07 on Friday. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The stock has a market cap of $124.77 billion, a P/E ratio of 156.67, a P/E/G ratio of 6.33 and a beta of 4.77. The business has a fifty day simple moving average of $143.18 and a 200-day simple moving average of $140.84.

ARM 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.