Public Employees Retirement System of Ohio Makes New Investment in Arm Holdings PLC Sponsored ADR $ARM

Public Employees Retirement System of Ohio acquired a new stake in Arm Holdings PLC Sponsored ADR (NASDAQ:ARM) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 107,962 shares of the company’s stock, valued at approximately $38,280,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Syntax Research Inc. bought a new position in ARM during the 1st quarter worth about $30,000. Evelyn Partners Investment Management Services Ltd acquired a new position in ARM during the 1st quarter worth approximately $30,000. Allied Private Wealth LLC bought a new position in shares of ARM during the 2nd quarter worth approximately $71,000. FWL Investment Management LLC acquired a new stake in shares of ARM in the second quarter valued at approximately $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of ARM in the first quarter valued at approximately $40,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ARM. Rosenblatt Securities reduced their target price on shares of ARM from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ARM in a report on Thursday, May 7th. Jefferies Financial Group restated a “buy” rating and issued a $320.00 price target on shares of ARM in a research note on Monday, July 20th. KeyCorp boosted their price target on ARM from $300.00 to $430.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Benchmark began coverage on shares of ARM in a research report on Thursday, July 16th. They set a “hold” rating on the stock. Eighteen research analysts have rated the stock with a Buy rating, seven have given 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 an average target price of $305.12.

ARM Stock Down 6.3%

ARM opened at $239.05 on Friday. Arm Holdings PLC Sponsored ADR has a twelve month low of $100.02 and a twelve month high of $452.70. The stock has a market capitalization of $255.32 billion, a price-to-earnings ratio of 246.45, a P/E/G ratio of 7.57 and a beta of 3.90. The company has a 50-day simple moving average of $285.38 and a 200 day simple moving average of $234.04.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. ARM had a return on equity of 12.24% and a net margin of 20.25%.ARM’s revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Sell-side analysts anticipate that Arm Holdings PLC Sponsored ADR will post 1.15 EPS for the current fiscal year.

Insider Transactions at ARM

In other news, insider William Abbey sold 6,566 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the transaction, the insider directly owned 20,563 shares in the company, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total transaction of $4,439,866.20. Following the completion of the sale, the chief accounting officer directly owned 12,135 shares in the company, valued at approximately $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

ARM Company Profile

Arm Holdings (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.