Arm Holdings plc (NASDAQ:ARM) Short Interest Update

Arm Holdings plc (NASDAQ:ARM) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 12,440,000 shares, a drop of 16.3% from the November 30th total of 14,860,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average trading volume of 5,340,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

ARM has been the topic of several analyst reports. TD Cowen boosted their price target on shares of ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, November 7th. Sanford C. Bernstein lowered ARM from a “market perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a research report on Thursday, October 31st. Benchmark started coverage on shares of ARM in a research report on Monday, September 16th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of ARM from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.32.

ARM Stock Performance

NASDAQ ARM traded down $0.49 during trading hours on Friday, hitting $129.20. The company had a trading volume of 2,797,701 shares, compared to its average volume of 10,112,010. The firm has a market capitalization of $135.38 billion, a price-to-earnings ratio of 215.34, a PEG ratio of 7.15 and a beta of 4.67. ARM has a 52 week low of $65.11 and a 52 week high of $188.75. The firm has a 50 day simple moving average of $139.60 and a 200 day simple moving average of $143.65.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $844.00 million during 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%. ARM’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. On average, research analysts forecast that ARM will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARM. Bank of New York Mellon Corp lifted its position in ARM by 97.2% during the second quarter. Bank of New York Mellon Corp now owns 118,094 shares of the company’s stock valued at $19,323,000 after purchasing an additional 58,216 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of ARM during the 2nd quarter worth $245,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in ARM in the second quarter worth $2,108,000. Pinnacle Associates Ltd. increased its stake in ARM by 15.7% in the second quarter. Pinnacle Associates Ltd. now owns 35,740 shares of the company’s stock valued at $5,848,000 after acquiring an additional 4,855 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in ARM during the second quarter worth about $297,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

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.