Arm Holdings plc (NASDAQ:ARM) Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 5.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 105,300 shares of the company’s stock after purchasing an additional 5,440 shares during the quarter. Bank of New York Mellon Corp’s holdings in ARM were worth $12,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in ARM by 21.7% in the third 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. Rheos Capital Works Inc. lifted its holdings in ARM by 29.6% during the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after buying an additional 56,000 shares during the last quarter. State Street Corp grew its position in shares of ARM by 19.2% in the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after acquiring an additional 35,720 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of ARM by 18.9% in the 4th quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock valued at $27,091,000 after acquiring an additional 34,847 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ARM in the 4th quarter valued at approximately $22,705,000. Institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

ARM has been the topic of several research analyst reports. Benchmark restated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Barclays raised their target price on shares of ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, UBS Group began coverage on ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 target price for the company. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

ARM Stock Up 1.1 %

ARM opened at $112.70 on Thursday. The firm has a market capitalization of $118.09 billion, a P/E ratio of 148.29, a PEG ratio of 6.33 and a beta of 4.77. The stock has a fifty day moving average of $146.05 and a 200-day moving average of $141.43. Arm Holdings plc has a 12-month low of $85.61 and a 12-month 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.