Short Interest in Arm Holdings plc (NASDAQ:ARM) Declines By 22.3%

Arm Holdings plc (NASDAQ:ARM) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 13,420,000 shares, a decrease of 22.3% from the August 15th total of 17,270,000 shares. Based on an average daily trading volume, of 10,180,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of ARM from $82.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Loop Capital increased their price target on ARM from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Guggenheim boosted their price objective on ARM from $110.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Barclays increased their target price on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Raymond James initiated coverage on shares of ARM in a report on Friday. They issued an “outperform” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.04.

Hedge Funds Weigh In On ARM

Several hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI grew its position in ARM by 700.0% during the 4th quarter. National Bank of Canada FI now owns 800 shares of the company’s stock worth $55,000 after purchasing an additional 700 shares during the period. Private Advisor Group LLC acquired a new position in ARM in the fourth quarter valued at approximately $226,000. Principal Securities Inc. acquired a new stake in shares of ARM during the 4th quarter worth approximately $116,000. Janney Montgomery Scott LLC increased its holdings in shares of ARM by 179.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 35,468 shares of the company’s stock valued at $2,665,000 after purchasing an additional 22,763 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of ARM in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Price Performance

ARM stock traded up $8.19 during midday trading on Friday, reaching $147.37. The company’s stock had a trading volume of 10,883,334 shares, compared to its average volume of 12,061,747. The stock has a market capitalization of $154.42 billion and a P/E ratio of 149.28. The stock’s 50-day simple moving average is $139.85 and its 200-day simple moving average is $132.82. ARM has a 52-week low of $46.50 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that ARM will post 0.82 earnings per share for the current fiscal year.

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.