Short Interest in Arm Holdings plc (NASDAQ:ARM) Rises By 18.9%

Arm Holdings plc (NASDAQ:ARM) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 14,730,000 shares, an increase of 18.9% from the January 15th total of 12,390,000 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 5,900,000 shares, the days-to-cover ratio is presently 2.5 days.

Hedge Funds Weigh In On ARM

A number of large investors have recently added to or reduced their stakes in the company. Tufton Capital Management increased its holdings in ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock worth $546,000 after purchasing an additional 65 shares in the last quarter. Valley National Advisers Inc. increased its holdings in ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock worth $75,000 after purchasing an additional 72 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock worth $236,000 after purchasing an additional 85 shares in the last quarter. GeoWealth Management LLC increased its holdings in ARM by 53.8% during the 4th quarter. GeoWealth Management LLC now owns 263 shares of the company’s stock worth $32,000 after purchasing an additional 92 shares in the last quarter. Finally, Cibc World Markets Corp increased its holdings in ARM by 3.5% during the 4th quarter. Cibc World Markets Corp now owns 2,838 shares of the company’s stock worth $350,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Down 3.2 %

ARM opened at $159.54 on Friday. ARM has a 12 month low of $85.61 and a 12 month high of $188.75. The company has a fifty day simple moving average of $146.27 and a 200 day simple moving average of $140.07. The stock has a market cap of $167.17 billion, a P/E ratio of 209.92, a P/E/G ratio of 7.83 and a beta of 4.57.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ARM shares. Barclays upped their price objective on ARM from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Loop Capital upped their price objective on ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 10th. TD Cowen upped their price objective on ARM from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Susquehanna increased their price target on ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.83.

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.