Hoey Investments Inc. Trims Stock Position in Arm Holdings plc (NASDAQ:ARM)

Hoey Investments Inc. decreased its position in shares of Arm Holdings plc (NASDAQ:ARM) by 64.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 650 shares of the company’s stock after selling 1,170 shares during the quarter. Hoey Investments Inc.’s holdings in ARM were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ARM. Quantbot Technologies LP purchased a new stake in ARM during the third quarter valued at $52,000. Berbice Capital Management LLC bought a new position in ARM in the 4th quarter worth about $49,000. Valley National Advisers Inc. raised its position in ARM by 13.3% during the 4th 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. MCF Advisors LLC purchased a new stake in ARM in the fourth quarter worth about $83,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of ARM by 108.6% during the fourth quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $107,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Price Performance

Shares of ARM stock opened at $107.80 on Monday. The firm has a 50 day simple moving average of $140.01 and a 200 day simple moving average of $140.66. The firm has a market cap of $112.96 billion, a P/E ratio of 141.84, a P/E/G 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley reduced their price target on ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Evercore ISI raised their target price on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Rosenblatt Securities boosted their price objective on shares of ARM from $180.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price objective on ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.41.

ARM Company Profile

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.