Long Corridor Asset Management Ltd bought a new stake in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,800 shares of the company’s stock, valued at approximately $4,075,000. ARM makes up 1.7% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 13th largest holding.
Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of ARM by 126.0% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $25,000 after buying an additional 97 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of ARM during the 3rd quarter valued at approximately $28,000. Huntington National Bank bought a new position in shares of ARM during the 2nd quarter valued at approximately $30,000. FWL Investment Management LLC purchased a new stake in ARM in the 2nd quarter worth approximately $34,000. Finally, Financial Consulate Inc. purchased a new stake in ARM in the 3rd quarter worth approximately $45,000. Institutional investors own 7.53% of the company’s stock.
ARM Trading Down 5.1%
NASDAQ ARM opened at $114.43 on Friday. ARM Holdings PLC Sponsored ADR has a 12 month low of $80.00 and a 12 month high of $183.16. The stock has a market cap of $120.90 billion, a PE ratio of 152.57, a P/E/G ratio of 7.89 and a beta of 4.11. The stock’s 50 day moving average is $116.58 and its 200 day moving average is $135.01.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on ARM shares. Bank of America reaffirmed a “neutral” rating and set a $120.00 price target on shares of ARM in a report on Tuesday, January 13th. Jefferies Financial Group set a $170.00 price objective on shares of ARM in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of ARM in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of ARM from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada dropped their target price on shares of ARM from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.81.
Get Our Latest Analysis on ARM
ARM Company Profile
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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