Ascent Wealth Partners LLC Buys 512 Shares of Arm Holdings plc (NASDAQ:ARM)

Ascent Wealth Partners LLC boosted its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 2.6% during the 4th quarter, HoldingsChannel reports. The fund owned 20,245 shares of the company’s stock after purchasing an additional 512 shares during the period. Ascent Wealth Partners LLC’s holdings in ARM were worth $2,497,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Rheos Capital Works Inc. boosted its holdings in ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after acquiring an additional 56,000 shares in the last quarter. State Street Corp boosted its holdings in ARM by 19.2% in the third 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. Finally, Cibc World Market Inc. boosted its holdings in ARM by 18.9% in the fourth quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock worth $27,091,000 after acquiring an additional 34,847 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

Shares of NASDAQ:ARM opened at $144.87 on Friday. The company has a market cap of $151.80 billion, a P/E ratio of 190.62, a P/E/G ratio of 6.60 and a beta of 4.57. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75. The stock’s 50-day moving average is $147.65 and its 200-day moving average is $141.41.

Analysts Set New Price Targets

ARM has been the subject of a number of research reports. Loop Capital lifted their target price on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Citigroup boosted their price objective on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Evercore ISI boosted their price target on ARM from $176.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

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.