Public Employees Retirement System of Ohio Raises Stock Position in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Public Employees Retirement System of Ohio increased its ARM Holdings stake by 141.4% in the first quarter, ending with 257,788 shares valued at about $39.0 million.
• ARM attracted more institutional buying overall, including a major 1,203.5% increase by Arrowstreet Capital, and hedge funds and other institutions now own 7.53% of the stock.
• Analyst sentiment remains largely positive, with 17 Buy ratings and a consensus price target of $297.65, though recent targets have been mixed and insider selling has continued.

Public Employees Retirement System of Ohio grew its stake in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 141.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,788 shares of the company's stock after purchasing an additional 151,005 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ARM were worth $38,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compound Planning Inc. purchased a new position in shares of ARM during the first quarter valued at about $393,000. Keebeck Wealth Management purchased a new stake in ARM in the first quarter worth about $202,000. Arrowstreet Capital Limited Partnership lifted its holdings in ARM by 1,203.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 945,152 shares of the company's stock worth $142,983,000 after buying an additional 872,644 shares during the period. Mizuho Markets Americas LLC bought a new stake in ARM during the 1st quarter valued at approximately $434,000. Finally, Sei Investments Co. boosted its position in ARM by 67.5% during the 1st quarter. Sei Investments Co. now owns 454,220 shares of the company's stock valued at $68,714,000 after acquiring an additional 183,045 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

ARM Stock Performance

Shares of ARM opened at $260.01 on Friday. The stock has a market cap of $277.71 billion, a PE ratio of 309.54, a price-to-earnings-growth ratio of 8.80 and a beta of 3.76. ARM Holdings PLC Sponsored ADR has a fifty-two week low of $100.02 and a fifty-two week high of $452.70. The firm's 50-day simple moving average is $330.27 and its two-hundred day simple moving average is $208.38.

ARM (NASDAQ:ARM - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share for the quarter. ARM had a net margin of 18.37% and a return on equity of 12.43%. The business had revenue of $1.49 billion during the quarter. Equities research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARM shares. Wells Fargo & Company decreased their target price on ARM from $410.00 to $350.00 and set an "overweight" rating for the company in a research report on Wednesday. Morgan Stanley restated an "equal weight" rating and issued a $150.00 target price (up from $135.00) on shares of ARM in a research note on Tuesday, April 7th. TD Cowen lifted their price target on ARM from $265.00 to $475.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Mizuho upped their price target on ARM from $425.00 to $500.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $320.00 price objective on shares of ARM in a report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $297.65.

Insider Buying and Selling

In related news, insider William Abbey sold 6,566 shares of the firm's stock in a transaction that occurred on 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 owned 20,563 shares of the company's stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Child sold 31,920 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $226.54, for a total value of $7,231,156.80. Following the transaction, the chief financial officer directly owned 174,232 shares of the company's stock, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 216,049 shares of company stock worth $52,101,605.

ARM 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.