Arm Holdings plc (NASDAQ:ARM) Short Interest Down 16.3% in December

Arm Holdings plc (NASDAQ:ARM - Get Free Report) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 12,440,000 shares, a drop of 16.3% from the November 30th total of 14,860,000 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 5,340,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price objective on shares of ARM from $115.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on ARM from $144.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. TD Cowen increased their price objective on ARM from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Sanford C. Bernstein downgraded ARM from a "market perform" rating to an "underperform" rating and set a $100.00 target price for the company. in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of ARM from $140.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $150.32.

ARM Price Performance

ARM stock traded down $0.49 during trading on Friday, reaching $129.20. 2,797,701 shares of the company were exchanged, compared to its average volume of 10,112,010. The stock's 50 day simple moving average is $139.60 and its two-hundred day simple moving average is $143.56. The company has a market capitalization of $135.38 billion, a P/E ratio of 215.34, a PEG ratio of 7.15 and a beta of 4.67. ARM has a 52-week low of $65.11 and a 52-week high of $188.75.

ARM (NASDAQ:ARM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. ARM had a return on equity of 13.69% and a net margin of 18.13%. The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $810.03 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that ARM will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Several institutional investors and hedge funds have recently bought and sold shares of ARM. Bank of New York Mellon Corp increased its stake in ARM by 97.2% during the second quarter. Bank of New York Mellon Corp now owns 118,094 shares of the company's stock worth $19,323,000 after acquiring an additional 58,216 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of ARM during the 2nd quarter worth $245,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of ARM during the 2nd quarter worth about $2,108,000. Pinnacle Associates Ltd. raised its holdings in ARM by 15.7% in the 2nd quarter. Pinnacle Associates Ltd. now owns 35,740 shares of the company's stock valued at $5,848,000 after buying an additional 4,855 shares during the period. Finally, Pine Valley Investments Ltd Liability Co acquired a new position in ARM in the second quarter valued at about $297,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.

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.