Short Interest in Arm Holdings plc (NASDAQ:ARM) Decreases By 12.0%

Arm Holdings plc (NASDAQ:ARMGet Free Report) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 7,930,000 shares, a decline of 12.0% from the February 29th total of 9,010,000 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 15,760,000 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ARM. KeyCorp boosted their target price on shares of ARM from $75.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft lowered shares of ARM from a “buy” rating to a “hold” rating and boosted their price target for the stock from $60.00 to $70.00 in a research report on Monday, December 18th. JPMorgan Chase & Co. boosted their price objective on ARM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. New Street Research reaffirmed a “neutral” rating and issued a $110.00 price target on shares of ARM in a research note on Tuesday, February 27th. Finally, Susquehanna lifted their target price on shares of ARM from $48.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of 85.78.

Read Our Latest Report on ARM

ARM Stock Performance

ARM stock opened at 124.99 on Monday. The business has a fifty day simple moving average of 115.99 and a 200-day simple moving average of 79.89. ARM has a 52 week low of 46.50 and a 52 week high of 164.00.

ARM (NASDAQ:ARMGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts expect that ARM will post 1.21 EPS for the current year.

Institutional Trading of ARM

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in ARM by 47.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,526 shares of the company’s stock worth $115,000 after buying an additional 494 shares during the period. Hoey Investments Inc. purchased a new stake in ARM during the 3rd quarter worth approximately $27,000. Armstrong Advisory Group Inc. purchased a new stake in ARM during the 3rd quarter worth approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ARM by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,555 shares of the company’s stock valued at $117,000 after purchasing an additional 514 shares in the last quarter. Finally, Centerpoint Advisors LLC purchased a new position in shares of ARM during the 3rd quarter valued at approximately $32,000. 7.53% of the stock is owned by hedge funds and other institutional investors.

About ARM

(Get Free Report)

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.

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