NewEdge Wealth LLC Has $1.27 Million Stake in Arm Holdings plc (NASDAQ:ARM)

NewEdge Wealth LLC lowered its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,283 shares of the company’s stock after selling 1,609 shares during the quarter. NewEdge Wealth LLC’s holdings in ARM were worth $1,269,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in ARM by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock worth $12,990,000 after purchasing an additional 5,440 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of ARM during the 4th quarter worth $382,000. Pine Valley Investments Ltd Liability Co boosted its stake in ARM by 103.0% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 3,094 shares of the company’s stock valued at $382,000 after buying an additional 1,570 shares in the last quarter. Prasad Wealth Partners LLC bought a new position in ARM in the fourth quarter valued at about $999,000. Finally, Union Bancaire Privee UBP SA acquired a new position in ARM during the fourth quarter worth about $471,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of ARM stock opened at $131.69 on Friday. The company has a market cap of $137.99 billion, a P/E ratio of 173.28, a PEG ratio of 6.33 and a beta of 4.56. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The stock has a 50 day simple moving average of $147.44 and a two-hundred day simple moving average of $142.08.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARM shares. Susquehanna raised their price target 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. Raymond James boosted their target price on shares of ARM from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. increased their price target on ARM from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Evercore ISI boosted their price objective on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Two equities 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 given a strong buy rating to the company. According to data from MarketBeat, 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.