Arm Holdings plc (NASDAQ:ARM) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 72.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,365 shares of the company’s stock after selling 9,019 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ARM were worth $435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of ARM by 5.4% during the 4th 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. Modus Advisors LLC increased its position in shares of ARM by 300.2% during the 4th quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares during the last quarter. XTX Topco Ltd increased its position in shares of ARM by 150.1% during the 3rd quarter. XTX Topco Ltd now owns 6,486 shares of the company’s stock worth $928,000 after purchasing an additional 3,893 shares during the last quarter. Avalon Global Asset Management LLC acquired a new stake in shares of ARM during the 3rd quarter worth about $8,581,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ARM by 89.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,457 shares of the company’s stock worth $2,640,000 after purchasing an additional 8,707 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARM. UBS Group began coverage on ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price objective for the company. Loop Capital lifted their target price on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Jefferies Financial Group lifted their target price on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Barclays lifted their target price on ARM from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Susquehanna lifted their target price on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $165.23.

ARM Stock Up 1.0 %

ARM stock opened at $119.07 on Friday. The business has a 50 day moving average price of $143.18 and a 200 day moving average price of $140.84. The stock has a market cap of $124.77 billion, a price-to-earnings ratio of 156.67, a PEG ratio of 6.33 and a beta of 4.77. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75.

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.