Truist Financial Corp Acquires Shares of 4,084 Arm Holdings plc (NASDAQ:ARM)

Truist Financial Corp acquired a new stake in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,084 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARM. Stephens Inc. AR boosted its stake in ARM by 312.9% in the third quarter. Stephens Inc. AR now owns 13,770 shares of the company’s stock valued at $1,969,000 after acquiring an additional 10,435 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in ARM by 45.8% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of ARM during the third quarter worth $387,000. Robeco Institutional Asset Management B.V. boosted its position in shares of ARM by 27.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 14,559 shares of the company’s stock worth $2,082,000 after purchasing an additional 3,145 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of ARM during the third quarter worth $376,000. 7.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARM. JPMorgan Chase & Co. lifted their price target on shares of ARM from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Mizuho lifted their price target on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Susquehanna lifted their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. TD Cowen lifted their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Price Performance

ARM stock opened at $121.10 on Tuesday. The firm has a market capitalization of $126.89 billion, a PE ratio of 159.34, a P/E/G ratio of 6.33 and a beta of 4.57. The company’s 50-day moving average is $147.32 and its 200-day moving average is $142.12. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75.

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.