Arm Holdings plc (NASDAQ:ARM) Position Increased by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. raised its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,085 shares of the company’s stock after purchasing an additional 565 shares during the period. Prosperity Wealth Management Inc.’s holdings in ARM were worth $627,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in 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 purchasing an additional 228,467 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after purchasing an additional 791,392 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ARM during the fourth quarter valued at $32,655,000. Rheos Capital Works Inc. increased its stake in ARM by 29.6% during the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after purchasing an additional 56,000 shares during the last quarter. Finally, State Street Corp increased its stake in ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after purchasing an additional 35,720 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Trading Down 4.2 %

ARM stock opened at $111.49 on Wednesday. Arm Holdings plc has a one year low of $85.61 and a one year high of $188.75. The firm has a market capitalization of $116.82 billion, a PE ratio of 146.70, a P/E/G ratio of 6.33 and a beta of 4.77. The firm has a 50-day moving average of $146.26 and a two-hundred day moving average of $141.63.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of ARM from $162.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. UBS Group assumed coverage on shares of ARM in a research report on Monday, November 25th. They set a “buy” rating and a $160.00 price target for the company. Loop Capital upped their price target on shares of ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Susquehanna upped their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $165.23.

ARM 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.