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

Arm Holdings plc (NASDAQ:ARM) was the target 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 short-interest ratio is currently 1.3 days. Currently, 1.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC grew its stake in ARM by 45.3% in the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after buying an additional 77 shares during the last quarter. BOKF NA grew its position in shares of ARM by 33.3% in the first quarter. BOKF NA now owns 400 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the last quarter. Comerica Bank increased its stake in shares of ARM by 6.1% during the first quarter. Comerica Bank now owns 1,780 shares of the company’s stock worth $222,000 after purchasing an additional 103 shares during the period. Naples Money Management LLC lifted its holdings in ARM by 47.8% during the 1st quarter. Naples Money Management LLC now owns 340 shares of the company’s stock worth $42,000 after purchasing an additional 110 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in ARM by 2.9% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 5,159 shares of the company’s stock worth $645,000 after purchasing an additional 145 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ARM shares. Loop Capital raised their price objective on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Guggenheim boosted their target price on ARM from $110.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $107.00 to $190.00 in a report on Friday, July 19th. Sanford C. Bernstein raised ARM from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $92.00 to $100.00 in a report on Wednesday, August 7th. Finally, HSBC lowered shares of ARM from a “hold” rating to a “reduce” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average target price of $123.04.

ARM Stock Performance

ARM traded down $7.71 during trading on Monday, reaching $139.66. 6,595,661 shares of the stock were exchanged, compared to its average volume of 12,031,129. The stock’s 50 day moving average price is $139.85 and its two-hundred day moving average price is $132.81. ARM has a twelve month low of $46.50 and a twelve month high of $188.75. The stock has a market cap of $146.34 billion and a P/E ratio of 148.06.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. ARM had a net margin of 12.12% and a return on equity of 18.97%. ARM’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. Equities research analysts predict 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.