Oppenheimer & Co. Inc. Cuts Position in Arm Holdings plc (NASDAQ:ARM)

Oppenheimer & Co. Inc. decreased its position in shares of Arm Holdings plc (NASDAQ:ARM) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,784 shares of the company’s stock after selling 6,830 shares during the period. Oppenheimer & Co. Inc.’s holdings in ARM were worth $6,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of ARM by 21.7% during the 3rd 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 in the last quarter. Rheos Capital Works Inc. grew 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. State Street Corp raised its stake in shares of ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of ARM by 18.9% in the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock worth $27,091,000 after acquiring an additional 34,847 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of ARM in the 4th quarter valued at $22,705,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of analyst reports. Barclays lifted their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. UBS Group began coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 price objective on the stock. Loop Capital boosted their target price on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Citigroup raised their price target on ARM from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Rosenblatt Securities boosted their price objective on ARM from $180.00 to $225.00 and gave the company a “buy” rating in a research report 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 given a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Stock Down 6.2 %

Shares of ARM stock opened at $130.34 on Friday. The business’s fifty day moving average is $147.45 and its 200 day moving average is $141.85. The stock has a market cap of $136.57 billion, a price-to-earnings ratio of 171.50, a PEG ratio of 6.33 and a beta of 4.56. Arm Holdings plc has a twelve month low of $85.61 and a twelve month high of $188.75.

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.