Rialto Wealth Management LLC Takes Position in Arm Holdings plc (NASDAQ:ARM)

Rialto Wealth Management LLC acquired a new position in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $123,000.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after buying an additional 791,392 shares during the period. Raymond James Financial Inc. bought a new position in ARM in the 4th quarter worth approximately $32,655,000. Rheos Capital Works Inc. increased its position in ARM by 29.6% in the 4th 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 period. Finally, State Street Corp increased its position in ARM by 19.2% in the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after acquiring an additional 35,720 shares during the period. 7.53% of the stock is currently owned by institutional investors.

ARM Stock Performance

Shares of ARM opened at $125.55 on Friday. The stock has a market capitalization of $131.56 billion, a price-to-earnings ratio of 165.20, a PEG ratio of 6.33 and a beta of 4.77. The stock has a fifty day moving average of $146.69 and a 200-day moving average of $141.82. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ARM shares. JPMorgan Chase & Co. increased their price target on ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group started coverage on shares of ARM in a research note on Monday, November 25th. They set a “buy” rating and a $160.00 target price on the stock. Evercore ISI upped their price target on shares of ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group increased their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

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.