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ARM Holdings plc (NASDAQ:ARM) shares are trading higher today following the news that Elliott Management, a well-known activist hedge fund, has added to its position in the company. Here’s what you need to know.
Institutional Confidence: As one of the most influential hedge funds, Elliott’s investments are closely watched by the market and their involvement may signal a positive outlook for the companies they target.
Options Activity: In addition to the equity purchase, there has been notable options activity surrounding ARM Holdings. Out of 16 detected trades, 62% were opened with bullish expectations, further underscoring the positive sentiment in the market. The majority of these trades were calls, amounting to over $11.8 million, while a smaller portion involved puts totaling $106,380. This activity suggests that “whales,” or large-scale investors, are expecting ARM’s stock price to move within a range of $75 to $150 in the coming months.
Company Overview: ARM Holdings is a key player in the semiconductor industry, known for its ARM architecture, which powers 99% of the world’s smartphone CPU cores. The company licenses its architecture to major tech firms like Apple Inc. (NASDAQ:AAPL) and Qualcomm Inc. (NASDAQ:QCOM), earning fees through royalties and licensing agreements. ARM’s dominance in the smartphone market and its significant presence in other battery-powered devices make it a crucial player in the tech ecosystem.
Price Action: ARM shares were up by 3.40% at $130.20 according to Benzinga Pro.
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