Arm Holdings plc (NASDAQ:ARM) Sees Large Increase in Short Interest

Arm Holdings plc (NASDAQ:ARM) was the target of a large increase in short interest in 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 trading volume, of 5,550,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.4% of the company’s stock are short sold.

ARM Stock Down 4.5 %

ARM stock opened at $145.00 on Tuesday. The firm has a fifty day simple moving average of $143.05 and a two-hundred day simple moving average of $143.78. ARM has a twelve month low of $65.11 and a twelve month high of $188.75. The company has a market capitalization of $151.94 billion, a PE ratio of 241.67, a P/E/G ratio of 7.15 and a beta of 4.67.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARM. JPMorgan Chase & Co. upped 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. Benchmark initiated coverage on shares of ARM in a report on Monday, September 16th. They issued a “hold” rating on the stock. Raymond James assumed coverage on shares of ARM in a research report on Friday, September 13th. They issued an “outperform” rating and a $160.00 price target on the stock. Loop Capital boosted their price objective on ARM from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, UBS Group initiated coverage on ARM in a report on Monday, November 25th. They issued a “buy” rating and a $160.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of ARM by 14,351.1% in the 3rd quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Sei Investments Co. lifted its stake in ARM by 551.6% in the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after acquiring an additional 490,415 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Franklin Resources Inc. boosted 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 valued at $183,265,000 after acquiring an additional 228,467 shares in the last quarter. Finally, Marsico Capital Management LLC purchased a new position in ARM during the 2nd quarter valued at $33,207,000. Institutional investors own 7.53% of the company’s stock.

ARM Company Profile

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.