Arm Holdings plc (NASDAQ:ARM) Sees Significant Growth in Short Interest

Arm Holdings plc (NASDAQ:ARM) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 14,860,000 shares, an increase of 6.8% from the November 15th total of 13,910,000 shares. Based on an average daily volume of 5,550,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of analyst reports. Susquehanna raised their price target on shares of ARM from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a report on Thursday, November 7th. Barclays lifted their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Loop Capital upped their target price on shares of ARM from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark started coverage on shares of ARM in a research note on Monday, September 16th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.32.

Institutional Trading of ARM

Several large investors have recently bought and sold shares of ARM. B. Riley Wealth Advisors Inc. increased its position in ARM by 7.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,833 shares of the company’s stock valued at $683,000 after acquiring an additional 337 shares during the period. Franklin Resources Inc. increased its holdings in ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after purchasing an additional 228,467 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of ARM during the 3rd quarter worth approximately $419,000. Virtu Financial LLC acquired a new stake in ARM in the third quarter worth $1,163,000. Finally, Hobbs Group Advisors LLC increased its stake in ARM by 7.4% in the third quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after purchasing an additional 100 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

ARM Trading Up 2.6 %

Shares of NASDAQ ARM opened at $151.91 on Monday. The stock has a 50 day moving average of $142.98 and a 200-day moving average of $143.61. The company has a market capitalization of $159.18 billion, a P/E ratio of 253.18, a P/E/G ratio of 7.15 and a beta of 4.67. ARM has a 12 month low of $65.11 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. ARM had a net margin of 18.13% and a return on equity of 13.69%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts predict that ARM will post 0.79 EPS for the current fiscal year.

About ARM

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.