Short Interest in Arm Holdings plc (NASDAQ:ARM) Expands By 7.2%

Arm Holdings plc (NASDAQ:ARM) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 14,530,000 shares, an increase of 7.2% from the September 15th total of 13,560,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 8,040,000 shares, the days-to-cover ratio is currently 1.8 days.

ARM Trading Up 1.2 %

NASDAQ:ARM opened at $152.50 on Thursday. The stock has a market capitalization of $159.79 billion and a price-to-earnings ratio of 391.04. The firm has a fifty day simple moving average of $135.66 and a two-hundred day simple moving average of $134.74. ARM has a 12 month low of $46.50 and a 12 month high of $188.75.

ARM (NASDAQ:ARM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share 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 firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $905.53 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. Equities analysts predict that ARM will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ARM shares. Loop Capital upped their price target 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. Sanford C. Bernstein upgraded shares of ARM from an “underperform” rating to a “market perform” rating and upped their price target for the company from $92.00 to $100.00 in a research report on Wednesday, August 7th. William Blair started coverage on shares of ARM in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. Barclays upped their price target on shares of ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Raymond James initiated coverage on shares of ARM in a research report on Friday, September 13th. They set an “outperform” rating and a $160.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ARM currently has an average rating of “Moderate Buy” and a consensus price target of $134.91.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ARM. Wellington Management Group LLP lifted its stake in shares of ARM by 56.4% in the fourth quarter. Wellington Management Group LLP now owns 4,468,720 shares of the company’s stock valued at $335,802,000 after buying an additional 1,611,926 shares in the last quarter. Sei Investments Co. lifted its position in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock valued at $94,790,000 after purchasing an additional 490,415 shares in the last quarter. State of Michigan Retirement System bought a new position in shares of ARM during the first quarter valued at about $28,523,000. Marsico Capital Management LLC bought a new position in shares of ARM during the second quarter valued at about $33,207,000. Finally, Zevenbergen Capital Investments LLC bought a new position in shares of ARM during the first quarter valued at about $23,704,000. 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.