Public Employees Retirement System of Ohio Purchases 4,399 Shares of ARM Holdings PLC Sponsored ADR $ARM

Key Points

• The Public Employees Retirement System of Ohio increased its stake in ARM Holdings PLC by 5.2% during the second quarter, acquiring 4,399 shares to bring its total to 89,287 shares valued at approximately $14.4 million.
• Multiple large investors have increased their positions in ARM, with Goldman Sachs Group raising its stake by 59.3% to become a major shareholder valued at $702 million.
• Analysts have varying opinions on ARM, with one analyst recommending a Strong Buy and an average rating of Moderate Buy, setting the price target at $168.52.

Public Employees Retirement System of Ohio raised its position in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,287 shares of the company's stock after purchasing an additional 4,399 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ARM were worth $14,441,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in ARM by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,574,854 shares of the company's stock valued at $702,129,000 after purchasing an additional 2,446,224 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of ARM in the first quarter worth $170,287,000. American Century Companies Inc. grew its stake in shares of ARM by 112.3% in the first quarter. American Century Companies Inc. now owns 703,365 shares of the company's stock worth $75,112,000 after purchasing an additional 372,081 shares during the last quarter. Invesco Ltd. grew its stake in shares of ARM by 9.5% in the first quarter. Invesco Ltd. now owns 576,020 shares of the company's stock worth $61,513,000 after purchasing an additional 49,805 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC grew its stake in shares of ARM by 1.2% in the second quarter. Zevenbergen Capital Investments LLC now owns 477,289 shares of the company's stock worth $77,197,000 after purchasing an additional 5,762 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARM has been the topic of a number of analyst reports. Benchmark reiterated a "hold" rating on shares of ARM in a research report on Monday, June 9th. Mizuho upped their price target on ARM from $160.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Seaport Res Ptn upgraded ARM to a "strong-buy" rating in a research report on Monday, August 11th. Needham & Company LLC reiterated a "hold" rating on shares of ARM in a research report on Thursday, July 31st. Finally, KeyCorp reiterated an "overweight" rating and issued a $190.00 price target (up previously from $175.00) on shares of ARM in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, ARM currently has an average rating of "Moderate Buy" and an average price target of $168.52.

ARM Trading Down 0.7%

ARM stock opened at $139.62 on Friday. The stock has a 50-day moving average price of $144.31 and a 200-day moving average price of $132.59. ARM Holdings PLC Sponsored ADR has a 1-year low of $80.00 and a 1-year high of $182.88. The firm has a market cap of $147.51 billion, a PE ratio of 211.55, a price-to-earnings-growth ratio of 9.40 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted $0.40 EPS. The business's quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that ARM Holdings PLC Sponsored ADR will post 0.9 earnings per share for the current year.

ARM Company Profile

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.

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