Arm Holdings plc (NASDAQ:ARM) Short Interest Update

Arm Holdings plc (NASDAQ:ARM) was the recipient 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. Based on an average daily volume of 5,340,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.2% of the company’s stock are short sold.

Institutional Investors Weigh In On ARM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in ARM by 21.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after purchasing an additional 228,467 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of ARM by 14,351.1% in the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock valued at $1,161,670,000 after buying an additional 806,676 shares in the last quarter. Sei Investments Co. raised its holdings in shares of ARM by 551.6% in the 2nd quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after buying an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARM by 186.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock worth $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Finally, Mark Asset Management LP boosted its holdings in ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock valued at $39,038,000 after acquiring an additional 29,686 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $125.91 on Tuesday. The stock has a 50 day moving average price of $139.60 and a 200 day moving average price of $143.56. The stock has a market cap of $131.93 billion, a PE ratio of 209.85, a P/E/G ratio of 7.15 and a beta of 4.67. ARM has a one year low of $65.11 and a one year high of $188.75.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on ARM shares. Loop Capital increased their price objective 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. Sanford C. Bernstein cut ARM from a “market perform” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Thursday, October 31st. Barclays upped their target price on ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. 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 report on Thursday, November 7th. Finally, Raymond James assumed coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.32.

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.