Arm Holdings plc (NASDAQ:ARM) Shares Purchased by Convergence Financial LLC

Convergence Financial LLC grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,855 shares of the company’s stock after purchasing an additional 454 shares during the quarter. Convergence Financial LLC’s holdings in ARM were worth $846,000 at the end of the most recent quarter.

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

ARM Trading Up 1.7 %

ARM stock opened at $138.97 on Thursday. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75. The stock has a market cap of $145.62 billion, a price-to-earnings ratio of 182.86, a PEG ratio of 6.33 and a beta of 4.56. The company’s 50-day moving average price is $147.48 and its two-hundred day moving average price is $141.93.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARM. Citigroup lifted 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. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Evercore ISI raised their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and an average price target of $162.83.

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.