Primecap Management Co. CA Sells 22,870 Shares of Arm Holdings plc (NASDAQ:ARM)

Primecap Management Co. CA decreased its holdings in Arm Holdings plc (NASDAQ:ARM) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 546,620 shares of the company’s stock after selling 22,870 shares during the period. Primecap Management Co. CA’s holdings in ARM were worth $67,431,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its position in ARM by 21.7% during 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. Bank Julius Baer & Co. Ltd Zurich boosted its position in ARM by 4,506.5% during 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 acquiring an additional 791,392 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ARM during the fourth quarter valued at $32,655,000. Rheos Capital Works Inc. boosted its position in ARM by 29.6% during 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 boosted its position in ARM by 19.2% during 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. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $119.72 on Wednesday. The firm has a market cap of $125.45 billion, a price-to-earnings ratio of 157.53, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75. The firm has a 50-day moving average price of $144.25 and a two-hundred day moving average price of $141.16.

Wall Street Analyst Weigh In

A number of analysts have commented on ARM shares. Rosenblatt Securities upped their price target on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target on the stock. Loop Capital upped their price objective on shares of ARM from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, February 10th. Raymond James upped their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.23.

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.