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

Arm Holdings plc (NASDAQ:ARM) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 10,910,000 shares, an increase of 8.2% from the May 31st total of 10,080,000 shares. Based on an average daily volume of 10,610,000 shares, the short-interest ratio is presently 1.0 days. Approximately 1.1% of the company’s shares are sold short.

ARM Trading Down 0.6 %

ARM opened at 162.48 on Wednesday. ARM has a 1-year low of 46.50 and a 1-year high of 177.31. The firm’s 50 day simple moving average is 128.97 and its two-hundred day simple moving average is 112.89.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, May 8th. The company reported 0.36 EPS for the quarter, topping analysts’ consensus estimates of 0.30 by 0.06. The company had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. ARM had a return on equity of 16.94% and a net margin of 9.46%. ARM’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. As a group, sell-side analysts predict that ARM will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, May 9th. BNP Paribas lowered ARM from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Friday, April 19th. Wells Fargo & Company boosted their target price on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Mizuho increased their price target on shares of ARM from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of ARM in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of 103.68.

Institutional Investors Weigh In On ARM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARM. BOKF NA increased its stake in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Comerica Bank raised its holdings in ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock valued at $222,000 after acquiring an additional 103 shares during the period. Naples Money Management LLC lifted its position in shares of ARM by 47.8% in the first quarter. Naples Money Management LLC now owns 340 shares of the company’s stock valued at $42,000 after acquiring an additional 110 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of ARM by 2.9% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after acquiring an additional 145 shares during the period. Finally, JTC Employer Solutions Trustee Ltd grew its position in shares of ARM by 14.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 1,550 shares of the company’s stock worth $195,000 after purchasing an additional 200 shares in the last quarter. 7.53% of the stock is owned by hedge funds and other institutional investors.

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.