CIBC Asset Management Inc Boosts Holdings in Arm Holdings plc (NASDAQ:ARM)

CIBC Asset Management Inc raised its stake in shares of Arm Holdings plc (NASDAQ:ARM) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,643 shares of the company’s stock after buying an additional 1,058 shares during the quarter. CIBC Asset Management Inc’s holdings in ARM were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Berbice Capital Management LLC purchased a new stake in shares of ARM in the fourth quarter worth about $49,000. Quantbot Technologies LP purchased a new stake in shares of ARM during the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC boosted its position in shares of ARM by 45.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of ARM by 13.3% in the fourth quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after purchasing an additional 72 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in ARM in the fourth quarter worth $83,000. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $144.87 on Friday. The firm has a 50-day simple moving average of $147.65 and a 200-day simple moving average of $141.22. Arm Holdings plc has a one year low of $85.61 and a one year high of $188.75. The firm has a market cap of $151.80 billion, a P/E ratio of 190.62, a P/E/G ratio of 6.75 and a beta of 4.57.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James increased their price objective on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of ARM in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped their price objective on ARM from $160.00 to $175.00 and gave the company an “overweight” 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 stock an “overweight” rating in a report on Friday, January 17th. Finally, Citigroup increased their price target on ARM from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ARM currently has an average 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.