Newbridge Financial Services Group Inc. raised its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,535 shares of the company’s stock after buying an additional 6,394 shares during the quarter. ARM comprises about 1.2% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 19th largest position. Newbridge Financial Services Group Inc.’s holdings in ARM were worth $8,282,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Quinn Opportunity Partners LLC purchased a new stake in shares of ARM in the 3rd quarter valued at about $7,482,000. Jump Financial LLC boosted its position in shares of ARM by 1,874.6% during the 3rd quarter. Jump Financial LLC now owns 133,700 shares of the company’s stock valued at $18,917,000 after acquiring an additional 126,929 shares during the last quarter. Family Management Corp purchased a new position in shares of ARM during the third quarter worth about $333,000. Marshall Wace LLP grew its holdings in shares of ARM by 69.5% during the third quarter. Marshall Wace LLP now owns 818,637 shares of the company’s stock worth $115,829,000 after purchasing an additional 335,685 shares in the last quarter. Finally, Vise Technologies Inc. increased its position in shares of ARM by 15.1% in the third quarter. Vise Technologies Inc. now owns 6,811 shares of the company’s stock worth $964,000 after purchasing an additional 896 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.
ARM Price Performance
Shares of NASDAQ ARM opened at $115.75 on Friday. The stock has a market capitalization of $122.29 billion, a P/E ratio of 154.33, a PEG ratio of 7.94 and a beta of 4.11. ARM Holdings PLC Sponsored ADR has a one year low of $80.00 and a one year high of $183.16. The firm’s 50 day simple moving average is $117.27 and its two-hundred day simple moving average is $134.41.
Analyst Upgrades and Downgrades
ARM has been the topic of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $120.00 target price on shares of ARM in a research note on Tuesday, January 13th. Evercore cut their price target on shares of ARM from $215.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ARM in a report on Wednesday, January 21st. Royal Bank Of Canada lowered their price objective on shares of ARM from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Finally, Oddo Bhf set a $170.00 price objective on shares of ARM in a report on Monday, January 5th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARM has an average rating of “Moderate Buy” and a consensus price target of $160.81.
About ARM
Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.
Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.
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