Public Employees Retirement System of Ohio Purchases 151,005 Shares of ARM Holdings PLC Sponsored ADR $ARM

Public Employees Retirement System of Ohio lifted its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 141.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 257,788 shares of the company’s stock after acquiring an additional 151,005 shares during the period. Public Employees Retirement System of Ohio’s holdings in ARM were worth $38,998,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARM. Amundi increased its position in shares of ARM by 24.8% during the first quarter. Amundi now owns 11,804 shares of the company’s stock valued at $1,153,000 after acquiring an additional 2,345 shares in the last quarter. Empowered Funds LLC lifted its position in ARM by 28.8% in the 1st quarter. Empowered Funds LLC now owns 4,887 shares of the company’s stock valued at $522,000 after acquiring an additional 1,094 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in ARM by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,430 shares of the company’s stock valued at $393,000 after acquiring an additional 200 shares in the last quarter. Bank of Nova Scotia purchased a new stake in ARM during the 2nd quarter valued at $556,000. Finally, State Street Corp boosted its stake in ARM by 14.7% during the 2nd quarter. State Street Corp now owns 441,445 shares of the company’s stock valued at $71,399,000 after purchasing an additional 56,656 shares during the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Insider Transactions at ARM

In related news, insider Spencer Collins sold 51,961 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $211.73, for a total transaction of $11,001,702.53. Following the completion of the sale, the insider directly owned 51,125 shares in the company, valued at approximately $10,824,696.25. The trade was a 50.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Roy Grisenthwaite sold 24,339 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the sale, the insider directly owned 5,543 shares of the company’s stock, valued at approximately $1,159,318.45. This represents a 81.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 216,049 shares of company stock worth $52,101,605.

ARM Price Performance

Shares of ARM opened at $260.01 on Friday. The firm has a market capitalization of $277.71 billion, a P/E ratio of 309.54, a PEG ratio of 8.80 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The business has a fifty day moving average of $330.27 and a 200 day moving average of $208.38.

ARM (NASDAQ:ARM) last posted its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. The company had revenue of $1.49 billion for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. Analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group decreased their price target on ARM from $470.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $320.00 price objective on shares of ARM in a research report on Monday. Barclays lifted their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of ARM in a research report on Thursday, May 7th. Finally, Guggenheim raised their price target on shares of ARM from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ARM presently has a consensus rating of “Moderate Buy” and an average target price of $297.65.

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.