Investors Buy Large Volume of Call Options on ARM (NASDAQ:ARM)

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARM. Jennison Associates LLC purchased a new stake in ARM during the 3rd quarter worth about $339,965,000. FMR LLC purchased a new position in shares of ARM in the 3rd quarter valued at approximately $242,812,000. Invesco Ltd. bought a new position in ARM during the 3rd quarter valued at approximately $143,092,000. Intel Corp bought a new position in ARM during the 3rd quarter valued at approximately $62,965,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of ARM in the 3rd quarter worth $57,004,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARM. Jefferies Financial Group began coverage on shares of ARM in a research report on Monday, October 9th. They set a “buy” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of ARM in a research report on Monday, October 9th. They set an “overweight” rating and a $70.00 price target on the stock. Susquehanna began coverage on shares of ARM in a research report on Thursday, September 28th. They set a “neutral” rating and a $48.00 price target on the stock. Societe Generale assumed coverage on shares of ARM in a research report on Thursday, October 19th. They set a “hold” rating and a $58.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on ARM in a report on Monday, October 9th. They set a “market perform” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of 62.09.

ARM Stock Up 6.7 %

NASDAQ ARM opened at 58.68 on Tuesday. The firm’s 50 day moving average price is 53.11. ARM has a 52 week low of 46.50 and a 52 week high of 69.00.

ARM (NASDAQ:ARM) last posted 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 business had revenue of 806.00 million during the quarter, compared to analysts’ expectations of 739.71 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities analysts anticipate that ARM will post 1.06 earnings per share for the current fiscal year.

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.