Arm Holdings plc (NASDAQ:ARM) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Arm Holdings plc (NASDAQ:ARM) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,551 shares of the company’s stock after purchasing an additional 559 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ARM were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Tufton Capital Management increased its stake in ARM by 1.5% in the fourth quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after purchasing an additional 65 shares during the last quarter. Valley National Advisers Inc. grew its holdings in ARM by 13.3% in the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after buying an additional 72 shares during the period. Zullo Investment Group Inc. increased its stake in shares of ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after acquiring an additional 85 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock worth $409,000 after acquiring an additional 98 shares during the period. Finally, Hobbs Group Advisors LLC boosted its position in shares of ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock worth $208,000 after acquiring an additional 100 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Price Performance

NASDAQ:ARM opened at $117.94 on Monday. The firm has a 50-day moving average of $145.26 and a two-hundred day moving average of $141.33. The stock has a market cap of $123.58 billion, a P/E ratio of 155.19, a PEG ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a 1-year low of $85.61 and a 1-year high of $188.75.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James upped their price target on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Evercore ISI boosted their price objective on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Susquehanna boosted their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Mizuho boosted their price objective on shares of ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.