CIBC Asset Management Inc Boosts Stock Position in Arm Holdings plc (NASDAQ:ARM)

CIBC Asset Management Inc raised its position in shares of Arm Holdings plc (NASDAQ:ARM) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,643 shares of the company’s stock after buying an additional 1,058 shares during the period. CIBC Asset Management Inc’s holdings in ARM were worth $2,670,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ARM by 186.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after purchasing an additional 233,909 shares in the last quarter. Franklin Resources Inc. raised 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 acquired a new stake in ARM in the fourth quarter worth about $22,705,000. UNICOM Systems Inc. purchased a new stake in shares of ARM during the fourth quarter worth about $13,673,000. Finally, Erste Asset Management GmbH acquired a new position in shares of ARM during the third quarter valued at about $11,646,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Trading Down 4.0 %

NASDAQ ARM opened at $144.87 on Friday. The stock has a market capitalization of $151.80 billion, a price-to-earnings ratio of 190.62, a PEG ratio of 6.75 and a beta of 4.57. The stock has a 50-day moving average of $147.65 and a 200 day moving average of $141.22. Arm Holdings plc has a twelve month low of $85.61 and a twelve month high of $188.75.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Finally, Susquehanna boosted their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

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.