Stock Traders Buy High Volume of Put Options on ARM (NASDAQ:ARM)

Arm Holdings plc (NASDAQ:ARM) was the target of unusually large options trading activity on Friday. Traders acquired 153,873 put options on the company. This is an increase of 21% compared to the average daily volume of 126,875 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Daiwa Capital Markets downgraded ARM from a “buy” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $130.00 in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. BNP Paribas cut shares of ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Friday. Rosenblatt Securities raised their price objective on ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Susquehanna reiterated a “neutral” rating and set a $85.00 target price on shares of ARM in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of 90.28.

ARM Trading Down 10.7 %

Shares of NASDAQ:ARM traded down 11.25 during trading on Friday, reaching 93.67. 14,460,743 shares of the stock were exchanged, compared to its average volume of 14,701,270. ARM has a 12 month low of 46.50 and a 12 month high of 164.00. The stock has a 50-day moving average price of 129.00 and a 200-day moving average price of 86.11.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that ARM will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On ARM

A number of hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new position in ARM in the 3rd quarter valued at $581,000. SG Americas Securities LLC bought a new stake in ARM during the third quarter worth about $170,000. Cedar Brook Financial Partners LLC acquired a new stake in ARM during the third quarter worth about $206,000. Newbridge Financial Services Group Inc. bought a new position in ARM in the 3rd quarter valued at about $114,000. Finally, Rheos Capital Works Inc. acquired a new position in shares of ARM in the 3rd quarter valued at approximately $4,817,000. 7.53% of the stock is owned by institutional investors.

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.