ARM Sees Unusually Large Options Volume (NASDAQ:ARM)

Arm Holdings plc (NASDAQ:ARM) saw unusually large options trading on Monday. Traders bought 44,362 call options on the company. This is an increase of approximately 52% compared to the average daily volume of 29,150 call options.

ARM Trading Up 6.7 %

Shares of NASDAQ:ARM traded up 3.71 during mid-day trading on Monday, reaching 58.70. The company had a trading volume of 7,473,347 shares, compared to its average volume of 8,406,055. The company has a 50-day simple moving average of 52.99. ARM has a one year low of 46.50 and a one year high of 69.00.

ARM (NASDAQ:ARM) last announced its quarterly earnings data on Wednesday, November 8th. The company reported 0.36 earnings per share for the quarter, topping the consensus estimate of 0.26 by 0.10. The firm had revenue of 806.00 million during the quarter, compared to analysts’ expectations of 739.71 million. The company’s revenue was up 27.9% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Research analysts predict that ARM will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARM. Sanford C. Bernstein began coverage on shares of ARM in a report on Monday, September 18th. They issued an “underperform” rating and a $46.00 price objective for the company. Morgan Stanley assumed coverage on shares of ARM in a research note on Friday, November 10th. They set an “equal weight” rating and a $55.00 price target for the company. Rosenblatt Securities initiated coverage on shares of ARM in a research note on Monday, October 9th. They issued a “buy” rating and a $85.00 price objective on the stock. Citigroup started coverage on ARM in a research report on Monday, October 9th. They set a “buy” rating and a $65.00 target price for the company. Finally, Bank of America began coverage on ARM in a research report on Monday, October 9th. They issued a “buy” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, ARM currently has an average rating of “Moderate Buy” and an average target price of 62.09.

Institutional Trading of ARM

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of ARM during the 3rd quarter valued at $339,965,000. FMR LLC purchased a new position in shares of ARM in the third quarter worth about $242,812,000. Invesco Ltd. bought a new stake in shares of ARM in the 3rd quarter valued at about $143,092,000. Intel Corp bought a new stake in shares of ARM in the 3rd quarter valued at about $62,965,000. Finally, Loomis Sayles & Co. L P purchased a new stake in ARM during the 3rd quarter valued at about $57,004,000.

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.