Arm Holdings plc (NASDAQ:ARM) Short Interest Up 8.2% in June

Arm Holdings plc (NASDAQ:ARM) saw a significant increase in short interest in 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. Approximately 1.1% of the shares of the company are short sold. Based on an average trading volume of 10,610,000 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of ARM from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Susquehanna restated a “neutral” rating and issued a $85.00 price objective on shares of ARM in a research report on Thursday, April 4th. Bank of America upped their target price on ARM from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Evercore ISI dropped their price target on shares of ARM from $156.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, BNP Paribas cut shares of 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of 103.68.

ARM Price Performance

ARM stock opened at 162.48 on Wednesday. The company’s 50 day simple moving average is 128.97 and its 200-day simple moving average is 112.89. ARM has a 1 year low of 46.50 and a 1 year high of 177.31.

ARM (NASDAQ:ARM) last released its quarterly 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. ARM had a return on equity of 16.94% and a net margin of 9.46%. The company had revenue of 928.00 million for the quarter, compared to analysts’ expectations of 865.94 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 46.6% compared to the same quarter last year. Analysts predict that ARM will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ARM

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in ARM by 15.7% in the fourth quarter. Jennison Associates LLC now owns 7,346,660 shares of the company’s stock valued at $552,065,000 after purchasing an additional 994,551 shares during the period. Schroder Investment Management Group purchased a new stake in shares of ARM during the fourth quarter worth approximately $480,194,000. Wellington Management Group LLP raised its holdings in 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 acquiring an additional 1,611,926 shares in the last quarter. Robeco Schweiz AG grew its holdings in ARM by 220.3% during the 4th quarter. Robeco Schweiz AG now owns 2,130,000 shares of the company’s stock worth $160,059,000 after acquiring an additional 1,465,000 shares in the last quarter. Finally, Mubadala Investment Co PJSC acquired a new position in shares of ARM during the fourth quarter worth $150,437,000. 7.53% of the stock is owned by institutional investors and hedge funds.

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.