Signal Advisors Wealth LLC cut its stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 55.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,900 shares of the company’s stock after selling 4,766 shares during the period. Signal Advisors Wealth LLC’s holdings in ARM were worth $552,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in ARM by 26.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,079 shares of the company’s stock worth $3,533,000 after purchasing an additional 6,888 shares during the last quarter. Raymond James Financial Inc. increased its position in ARM by 3.4% during the 1st quarter. Raymond James Financial Inc. now owns 273,687 shares of the company’s stock worth $29,227,000 after buying an additional 8,980 shares during the period. Brooklyn Investment Group acquired a new stake in shares of ARM during the first quarter worth $28,000. CW Advisors LLC bought a new stake in shares of ARM in the first quarter valued at about $255,000. Finally, Norinchukin Bank The bought a new stake in shares of ARM in the first quarter valued at about $375,000. Institutional investors and hedge funds own 7.53% of the company’s stock.
ARM Trading Up 0.5%
NASDAQ ARM opened at $114.04 on Monday. The firm’s 50 day simple moving average is $147.94 and its 200 day simple moving average is $147.20. The firm has a market capitalization of $120.49 billion, a price-to-earnings ratio of 146.21, a P/E/G ratio of 6.83 and a beta of 4.23. ARM Holdings PLC Sponsored ADR has a 1 year low of $80.00 and a 1 year high of $183.16.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on ARM shares. KeyCorp raised their price target on shares of ARM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley lowered their target price on shares of ARM from $180.00 to $171.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Bank of America dropped their price target on shares of ARM from $205.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. JPMorgan Chase & Co. increased their price target on ARM from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, TD Cowen raised their price objective on ARM from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $178.30.
Read Our Latest Analysis on ARM
ARM Company Profile
Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.
Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.
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