Traders Purchase High Volume of Put Options on ARM (NASDAQ:ARM)

Arm Holdings plc (NASDAQ:ARM) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 153,873 put options on the company. This is an increase of 21% compared to the average daily volume of 126,875 put options.

ARM Stock Down 16.9 %

ARM stock opened at 87.19 on Friday. ARM has a twelve month low of 46.50 and a twelve month high of 164.00. The business’s 50-day moving average price is 128.44 and its 200-day moving average price is 86.60.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, February 7th. The company reported 0.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 13.8% on a year-over-year basis. On average, analysts expect that ARM will post 0.36 EPS for the current fiscal year.

Institutional Trading of ARM

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of ARM in the 3rd quarter valued at $219,000. Robeco Schweiz AG purchased a new stake in shares of ARM in the 3rd quarter valued at about $35,591,000. American Century Companies Inc. purchased a new stake in shares of ARM in the 3rd quarter valued at about $54,800,000. Citigroup Inc. purchased a new stake in ARM during the 3rd quarter valued at approximately $344,000. Finally, UG Investment Advisers Ltd. purchased a new stake in ARM during the 3rd quarter valued at approximately $3,568,000. 7.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARM has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of ARM from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Susquehanna reissued a “neutral” rating and set a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. TD Cowen lifted their price target on shares of ARM from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Barclays increased their target price on shares of ARM from $65.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, ARM has an average rating of “Hold” and a consensus target price of 90.28.

ARM Company Profile

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.