Erste Asset Management GmbH Cuts Stock Position in Arm Holdings plc (NASDAQ:ARM)

Erste Asset Management GmbH reduced its position in Arm Holdings plc (NASDAQ:ARM) by 62.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after selling 50,000 shares during the quarter. Erste Asset Management GmbH’s holdings in ARM were worth $3,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of ARM by 4,506.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after acquiring an additional 791,392 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of ARM in the 4th quarter valued at about $32,655,000. Rheos Capital Works Inc. lifted its stake in shares of 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 last quarter. Finally, State Street Corp lifted its stake in shares of 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 last quarter. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

ARM Stock Up 5.3 %

ARM stock opened at $117.94 on Friday. The company has a market capitalization of $123.58 billion, a P/E ratio of 155.19, a PEG ratio of 6.33 and a beta of 4.77. The stock’s 50 day moving average is $145.26 and its 200 day moving average is $141.15. Arm Holdings plc has a twelve month low of $85.61 and a twelve month high of $188.75.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARM. Evercore ISI boosted their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Mizuho boosted their target price on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. 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. UBS Group began coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $165.23.

ARM Company 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.