Investors Purchase High Volume of ARM Call Options (NASDAQ:ARM)

Arm Holdings plc (NASDAQ:ARM) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 74,067 call options on the stock. This is an increase of 19% compared to the average daily volume of 62,071 call options.

Hedge Funds Weigh In On ARM

A number of institutional investors have recently modified their holdings of ARM. ORG Partners LLC purchased a new stake in shares of ARM in the third quarter valued at $29,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of ARM by 83.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock worth $37,000 after acquiring an additional 117 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ARM in the third quarter valued at approximately $52,000. Berbice Capital Management LLC acquired a new position in ARM during the fourth quarter worth approximately $49,000. Finally, Farther Finance Advisors LLC raised its stake in ARM by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 7.53% of the company’s stock.

Analyst Ratings Changes

ARM has been the subject of a number of research analyst reports. Susquehanna upped their price objective 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. Evercore ISI raised their price target on shares of ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on ARM from $144.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.09.

ARM Stock Performance

ARM stock traded up $27.13 during trading hours on Wednesday, reaching $182.33. 12,600,703 shares of the stock were exchanged, compared to its average volume of 5,218,411. The stock has a market cap of $191.05 billion, a P/E ratio of 299.82, a P/E/G ratio of 6.97 and a beta of 4.53. The firm’s 50 day moving average is $137.82 and its 200 day moving average is $140.73. ARM has a 52-week low of $69.32 and a 52-week high of $188.75.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a net margin of 18.13% and a return on equity of 13.69%. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that ARM will post 0.84 EPS 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.