Investors Buy Large Volume of ARM Put Options (NASDAQ:ARM)

Arm Holdings plc (NASDAQ:ARM) saw some unusual options trading activity on Friday. Stock investors bought 153,873 put options on the stock. This represents an increase of approximately 21% compared to the typical volume of 126,875 put options.

Wall Street Analyst Weigh In

A number of research firms recently commented on ARM. Mizuho upped their price objective on shares of ARM from $100.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. KeyCorp upped their price objective on shares of ARM from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Evercore ISI initiated coverage on shares of ARM in a research report on Tuesday. They issued an “outperform” rating and a $156.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of ARM from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, New Street Research reaffirmed a “neutral” rating and issued a $110.00 target price on shares of ARM in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, ARM currently has an average rating of “Hold” and an average target price of 90.28.

ARM Price Performance

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 company’s 50-day moving average price is 128.44 and its two-hundred day moving average price is 86.35.

ARM (NASDAQ:ARM) last announced its earnings results on Wednesday, February 7th. The company reported 0.29 EPS for the quarter, topping the consensus estimate of 0.25 by 0.04. The business had revenue of 824.00 million for the quarter, compared to the consensus estimate of 762.50 million. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, analysts forecast that ARM will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SOA Wealth Advisors LLC. acquired a new stake in shares of ARM during the 1st quarter worth approximately $35,000. Hoey Investments Inc. bought a new stake in ARM in the third quarter valued at $27,000. Centerpoint Advisors LLC bought a new stake in ARM in the third quarter valued at $32,000. Ancora Advisors LLC bought a new stake in ARM in the third quarter valued at $32,000. Finally, Northwest Financial Advisors bought a new stake in ARM in the fourth quarter valued at $46,000. 7.53% of the stock is owned by institutional investors.

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.