Raymond James Financial Inc. Acquires New Position in Arm Holdings plc (NASDAQ:ARM)

Raymond James Financial Inc. acquired a new stake in Arm Holdings plc (NASDAQ:ARM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 264,707 shares of the company’s stock, valued at approximately $32,655,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the last quarter. Rheos Capital Works Inc. grew its stake in shares of ARM by 29.6% during the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after buying an additional 56,000 shares during the last quarter. State Street Corp grew its stake in shares of ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after buying an additional 35,720 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of ARM by 18.9% during the fourth quarter. Cibc World Market Inc. now owns 219,613 shares of the company’s stock worth $27,091,000 after buying an additional 34,847 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ARM during the fourth quarter worth $22,705,000. 7.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARM has been the topic of a number of research reports. Loop Capital boosted their target price on shares of ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Susquehanna lifted their price target on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC reiterated a “hold” rating on shares of ARM in a report on Thursday, February 6th. Mizuho lifted their price target on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of ARM from $162.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two equities 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Stock Down 0.6 %

Shares of ARM opened at $112.05 on Friday. The stock has a market capitalization of $117.41 billion, a P/E ratio of 147.44, a PEG ratio of 6.33 and a beta of 4.77. The firm has a fifty day simple moving average of $145.72 and a two-hundred day simple moving average of $141.22. Arm Holdings plc has a twelve month low of $85.61 and a twelve month high of $188.75.

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.