Investors Buy High Volume of Call Options on ARM Holdings plc (ARMH)
ARM Holdings plc (NASDAQ:ARMH) was the target of some unusual options trading activity on Wednesday. Traders acquired 12,282 call options on the company, Stock Ratings News reports. This is an increase of approximately 552% compared to the average daily volume of 1,884 call options.
ARMH has been the subject of a number of recent research reports. Analysts at Liberum Capital reiterated a “sell” rating on shares of ARM Holdings plc in a research note on Friday, August 22nd. Separately, analysts at Galvan Research reiterated a “buy” rating on shares of ARM Holdings plc in a research note on Friday, August 8th. Finally, analysts at Benchmark Co. upgraded shares of ARM Holdings plc from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $49.00 price target on the stock, up previously from $47.00. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. ARM Holdings plc has a consensus rating of “Buy” and an average target price of $47.29.
ARM Holdings plc (NASDAQ:ARMH) traded up 1.22% during mid-day trading on Wednesday, hitting $47.93. The stock had a trading volume of 1,070,189 shares. ARM Holdings plc has a 52 week low of $39.69 and a 52 week high of $55.26. The stock has a 50-day moving average of $44.49 and a 200-day moving average of $46.49. The company has a market cap of $22.505 billion and a price-to-earnings ratio of 84.40.
ARM Holdings plc (NASDAQ:ARMH) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.02. The company had revenue of $309.60 million for the quarter, compared to the consensus estimate of $306.32 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that ARM Holdings plc will post $1.18 EPS for the current fiscal year.
ARM Holdings plc (NASDAQ:ARMH) designs microprocessors, physical intellectual property (IP) and related technology and software, and sells development tools.
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