Stonebridge Financial Group LLC Buys Shares of 1,040 Arm Holdings plc (NASDAQ:ARM)

Stonebridge Financial Group LLC purchased a new position in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,040 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its position in shares of ARM by 91.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,166 shares of the company’s stock valued at $3,228,000 after purchasing an additional 12,507 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in ARM by 14.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,773 shares of the company’s stock worth $342,000 after buying an additional 350 shares in the last quarter. Dock Street Asset Management Inc. grew its position in ARM by 8.9% during the fourth quarter. Dock Street Asset Management Inc. now owns 49,011 shares of the company’s stock valued at $6,046,000 after acquiring an additional 4,020 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of ARM during the fourth quarter worth approximately $175,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of ARM by 6.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,534 shares of the company’s stock worth $1,916,000 after acquiring an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $155.41 on Thursday. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75. The firm has a market capitalization of $162.84 billion, a P/E ratio of 204.49, a P/E/G ratio of 7.83 and a beta of 4.57. The stock has a 50 day moving average price of $145.45 and a 200-day moving average price of $139.79.

Wall Street Analysts Forecast Growth

ARM has been the topic of several recent research reports. Raymond James increased their target price on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup raised their price objective on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays lifted their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Jefferies Financial Group increased their target price on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.