Alberta Investment Management Corp Lowers Stock Holdings in Arm Holdings plc (NASDAQ:ARM)

Alberta Investment Management Corp cut its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,595 shares of the company’s stock after selling 2,983 shares during the period. Alberta Investment Management Corp’s holdings in ARM were worth $2,171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its holdings 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 buying an additional 228,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in ARM by 186.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after buying an additional 233,909 shares during the period. Rheos Capital Works Inc. lifted its stake in ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after buying an additional 56,000 shares during the last quarter. State Street Corp boosted its holdings in shares of ARM by 19.2% in the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after acquiring an additional 35,720 shares during the period. Finally, Cibc World Market Inc. grew its position 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 acquiring an additional 34,847 shares during the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ARM. TD Cowen increased their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho increased their target price on shares of ARM from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Loop Capital boosted their price target on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ARM currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.83.

ARM Trading Down 4.0 %

Shares of ARM stock opened at $144.87 on Friday. The company has a 50-day moving average of $147.65 and a two-hundred day moving average of $141.22. The stock has a market cap of $151.80 billion, a PE ratio of 190.62, a price-to-earnings-growth ratio of 6.75 and a beta of 4.57. Arm Holdings plc has a 12-month low of $85.61 and a 12-month high of $188.75.

About ARM

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.