Arm Holdings plc (NASDAQ:ARM) Short Interest Update

Arm Holdings plc (NASDAQ:ARM) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 15,510,000 shares, an increase of 11.1% from the July 15th total of 13,960,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 11,440,000 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On ARM

A number of large investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of ARM by 393.0% during the 1st quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock valued at $3,154,000 after acquiring an additional 20,117 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of ARM in the fourth quarter valued at about $665,000. Rheos Capital Works Inc. raised its holdings in shares of ARM by 48.1% during the 1st quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock valued at $32,110,000 after buying an additional 83,400 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of ARM during the 1st quarter valued at about $222,000. Finally, Quadrature Capital Ltd purchased a new position in ARM in the 1st quarter worth approximately $2,620,000. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARM. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 target price on shares of ARM in a research report on Thursday, August 1st. Evercore ISI increased their price objective on ARM from $145.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America raised their price objective on shares of ARM from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Loop Capital increased their target price on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price target on ARM from $110.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARM presently has an average rating of “Moderate Buy” and an average price target of $121.56.

ARM Trading Down 0.1 %

Shares of NASDAQ ARM traded down $0.14 on Friday, reaching $130.30. 6,100,567 shares of the company traded hands, compared to its average volume of 12,704,922. The company has a 50 day moving average of $152.36 and a 200 day moving average of $129.86. ARM has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The stock has a market capitalization of $136.53 billion and a PE ratio of 124.47.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. As a group, research analysts expect that ARM will post 0.82 earnings per share for the current 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.