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. Traders acquired 153,873 put options on the stock. This represents an increase of 21% compared to the average daily volume of 126,875 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ARM shares. KeyCorp raised their price target on shares of ARM from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. 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 report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on shares of ARM from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Susquehanna reiterated a “neutral” rating and set a $85.00 price objective on shares of ARM in a research note on Thursday, April 4th. Finally, Rosenblatt Securities lifted their price target on shares of ARM from $140.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of 90.28.

ARM Stock Performance

NASDAQ ARM opened at 87.19 on Friday. The stock’s 50 day moving average price is 128.44 and its two-hundred day moving average price is 86.60. ARM has a 52 week low of 46.50 and a 52 week high of 164.00.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, beating analysts’ consensus estimates of 0.25 by 0.04. The firm had revenue of 824.00 million during the quarter, compared to analyst estimates of 762.50 million. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts anticipate that ARM will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On ARM

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in shares of ARM in the third quarter valued at about $219,000. Robeco Schweiz AG acquired a new stake in ARM in the third quarter valued at approximately $35,591,000. American Century Companies Inc. acquired a new stake in ARM in the third quarter valued at approximately $54,800,000. Citigroup Inc. acquired a new stake in ARM in the third quarter valued at approximately $344,000. Finally, UG Investment Advisers Ltd. bought a new position in shares of ARM in the third quarter valued at approximately $3,568,000. 7.53% of the stock is currently owned by institutional investors.

About ARM

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.