Arm Holdings plc (NASDAQ:ARM) Short Interest Down 22.3% in August

Arm Holdings plc (NASDAQ:ARM) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 13,420,000 shares, a decline of 22.3% from the August 15th total of 17,270,000 shares. Based on an average daily volume of 10,180,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.2% of the shares of the company are sold short.

Analysts Set New Price Targets

ARM has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a research report on Monday, July 29th. Morgan Stanley upgraded ARM from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $107.00 to $190.00 in a research report on Friday, July 19th. Daiwa Capital Markets upgraded ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price objective on shares of ARM in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their target price on shares of ARM from $110.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARM currently has a consensus rating of “Moderate Buy” and an average price target of $123.04.

ARM Price Performance

Shares of ARM stock traded down $7.71 during midday trading on Monday, reaching $139.66. The company had a trading volume of 6,595,661 shares, compared to its average volume of 12,031,129. The firm has a market cap of $146.34 billion and a PE ratio of 148.06. The stock has a fifty day moving average price of $139.85 and a 200 day moving average price of $132.81. ARM has a fifty-two week low of $46.50 and a fifty-two week high of $188.75.

ARM (NASDAQ:ARM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ARM had a net margin of 12.12% and a return on equity of 18.97%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, sell-side analysts forecast that ARM will post 0.82 EPS for the current year.

Hedge Funds Weigh In On ARM

Institutional investors have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in ARM in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new position in ARM during the 2nd quarter worth $33,000. RiverPark Advisors LLC boosted its holdings in ARM by 45.3% during the second quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock worth $40,000 after purchasing an additional 77 shares during the last quarter. Mather Group LLC. bought a new stake in ARM in the 2nd quarter worth about $41,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in ARM in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

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.