Sumitomo Mitsui Trust Group Inc. Has $3.64 Million Position in Arm Holdings plc (NASDAQ:ARM)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Arm Holdings plc (NASDAQ:ARM) by 6.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,494 shares of the company’s stock after selling 1,993 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ARM were worth $3,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARM. ORG Partners LLC acquired a new position in shares of ARM during the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after acquiring an additional 117 shares during the period. Quantbot Technologies LP acquired a new position in shares of ARM during the third quarter valued at $52,000. Berbice Capital Management LLC acquired a new position in shares of ARM during the fourth quarter valued at $49,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock valued at $60,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $164.83 on Friday. The company has a market cap of $172.71 billion, a PE ratio of 216.88, a PEG ratio of 7.83 and a beta of 4.57. Arm Holdings plc has a 52-week low of $85.61 and a 52-week high of $188.75. The stock has a 50-day simple moving average of $145.73 and a 200 day simple moving average of $139.90.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARM shares. Evercore ISI upped their price target on ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Mizuho increased their target price on ARM from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their target price on ARM from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. The Goldman Sachs Group increased their target price on ARM from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Loop Capital increased their target price on ARM from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $162.83.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.