Wellington Shields Capital Management LLC Increases Holdings in Arm Holdings plc (NASDAQ:ARM)

Wellington Shields Capital Management LLC lifted its holdings in Arm Holdings plc (NASDAQ:ARM) by 12,236.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,040 shares of the company’s stock after acquiring an additional 183,540 shares during the period. ARM accounts for approximately 1.9% of Wellington Shields Capital Management LLC’s holdings, making the stock its 13th biggest holding. Wellington Shields Capital Management LLC’s holdings in ARM were worth $22,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Modus Advisors LLC raised its stake in shares of ARM by 300.2% in the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock valued at $2,212,000 after acquiring an additional 13,453 shares during the period. XTX Topco Ltd grew its holdings in ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock valued at $928,000 after purchasing an additional 3,893 shares during the last quarter. Bank of New York Mellon Corp raised its position in ARM by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock worth $12,990,000 after purchasing an additional 5,440 shares during the period. Avalon Global Asset Management LLC bought a new stake in shares of ARM during the 3rd quarter worth approximately $8,581,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ARM by 89.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company’s stock valued at $2,640,000 after purchasing an additional 8,707 shares during the period. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARM. Susquehanna lifted their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Benchmark restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Raymond James increased their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Rosenblatt Securities raised their target price 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ARM 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Price Performance

ARM stock opened at $112.05 on Friday. The company has a market capitalization of $117.41 billion, a P/E ratio of 147.44, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a 12 month low of $85.61 and a 12 month high of $188.75. The firm’s fifty day simple moving average is $145.72 and its 200-day simple moving average is $141.22.

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.