Arm Holdings plc (NASDAQ:ARM) Short Interest Up 11.1% in July

Arm Holdings plc (NASDAQ:ARM) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 15,510,000 shares, a growth of 11.1% from the July 15th total of 13,960,000 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 11,440,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of ARM

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its position in ARM by 393.0% during the first quarter. Lazard Asset Management LLC now owns 25,236 shares of the company’s stock worth $3,154,000 after purchasing an additional 20,117 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in ARM during the fourth quarter worth approximately $665,000. Rheos Capital Works Inc. boosted its position in ARM by 48.1% during the first quarter. Rheos Capital Works Inc. now owns 256,900 shares of the company’s stock worth $32,110,000 after purchasing an additional 83,400 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in ARM during the first quarter worth approximately $222,000. Finally, Quadrature Capital Ltd purchased a new position in ARM during the first quarter worth approximately $2,620,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

ARM stock opened at $130.30 on Monday. ARM has a fifty-two week low of $46.50 and a fifty-two week high of $188.75. The company has a market cap of $136.53 billion and a PE ratio of 138.77. The business’s 50-day simple moving average is $152.36 and its two-hundred day simple moving average is $130.68.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, July 31st. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $905.53 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, analysts predict that ARM will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on ARM shares. Hsbc Global Res upgraded shares of ARM to a “moderate sell” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ARM from $82.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on shares of ARM from $145.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays upped their price target on ARM from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, TD Cowen raised their price objective on ARM from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.56.

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.