Public Employees Retirement System of Ohio Buys Shares of 95,540 Arm Holdings plc (NASDAQ:ARM)

Public Employees Retirement System of Ohio acquired a new position in Arm Holdings plc (NASDAQ:ARM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 95,540 shares of the company's stock, valued at approximately $11,786,000.

A number of other hedge funds have also recently made changes to their positions in ARM. Atomi Financial Group Inc. purchased a new stake in ARM during the 4th quarter valued at about $270,000. Geneos Wealth Management Inc. bought a new stake in ARM in the fourth quarter valued at approximately $334,000. Juncture Wealth Strategies LLC boosted its stake in shares of ARM by 39.0% during the fourth quarter. Juncture Wealth Strategies LLC now owns 2,488 shares of the company's stock valued at $307,000 after purchasing an additional 698 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of ARM by 13.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 3,932 shares of the company's stock valued at $485,000 after purchasing an additional 453 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of ARM by 13.6% in the fourth quarter. Blue Trust Inc. now owns 1,662 shares of the company's stock worth $205,000 after purchasing an additional 199 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARM shares. TD Cowen lowered their price target on shares of ARM from $200.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, May 8th. KGI Securities assumed coverage on shares of ARM in a research note on Tuesday, April 15th. They set a "neutral" rating for the company. Guggenheim reduced their price target on ARM from $180.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Mizuho lifted their price objective on ARM from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Benchmark restated a "hold" rating on shares of ARM in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $152.76.

ARM Stock Down 5.5%

Shares of NASDAQ:ARM traded down $7.44 on Thursday, hitting $128.10. 7,402,970 shares of the company traded hands, compared to its average volume of 6,916,013. The stock has a 50 day simple moving average of $113.74 and a 200-day simple moving average of $130.84. The company has a market cap of $134.23 billion, a PE ratio of 168.55, a PEG ratio of 6.33 and a beta of 4.39. Arm Holdings plc has a 52 week low of $80.00 and a 52 week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.23 billion. ARM had a net margin of 21.82% and a return on equity of 11.94%. The business's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts anticipate that Arm Holdings plc will post 0.9 earnings per share for the current year.

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.