Stanley Laman Group Ltd. bought a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 43,952 shares of the company’s stock, valued at approximately $6,219,000. ARM comprises about 0.9% of Stanley Laman Group Ltd.’s portfolio, making the stock its 23rd biggest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARM. Sustainable Growth Advisers LP lifted its holdings in shares of ARM by 116.8% during the second quarter. Sustainable Growth Advisers LP now owns 3,457,220 shares of the company’s stock worth $559,171,000 after purchasing an additional 1,862,626 shares during the period. Schroder Investment Management Group raised its position in ARM by 41.7% during the 2nd quarter. Schroder Investment Management Group now owns 4,745,957 shares of the company’s stock worth $767,611,000 after purchasing an additional 1,396,684 shares during the last quarter. Invesco Ltd. raised its position in ARM by 139.9% during the 2nd quarter. Invesco Ltd. now owns 1,381,906 shares of the company’s stock worth $223,509,000 after purchasing an additional 805,886 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in ARM by 3,853.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 520,465 shares of the company’s stock worth $84,180,000 after buying an additional 507,300 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of ARM in the 2nd quarter valued at about $65,294,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.
ARM Stock Performance
ARM stock opened at $114.73 on Monday. The stock has a market capitalization of $121.21 billion, a price-to-earnings ratio of 147.09, a PEG ratio of 6.87 and a beta of 4.34. ARM Holdings PLC Sponsored ADR has a 52-week low of $80.00 and a 52-week high of $183.16. The stock’s 50 day moving average price is $136.37 and its two-hundred day moving average price is $145.26.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on ARM. Cowen reissued a “buy” rating on shares of ARM in a research note on Thursday, November 6th. Wells Fargo & Company increased their target price on shares of ARM from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Loop Capital boosted their price target on shares of ARM from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a research report on Thursday, November 6th. Finally, UBS Group lowered their target price on shares of ARM from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.90.
Check Out Our Latest Report on ARM
About ARM
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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