DA Davidson Upgrades ARM Holdings (ARMH) to Neutral; Compelling Growth Story, But Valuation Still High
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Price: $10.60 -6.94%
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 13 | New: 26
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 13 | New: 26
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DA Davidson upgraded ARM Holdings (NASDAQ: ARMH) from Underperform to Neutral, price target raised from $21 to $25.
Analyst, Aalok K. Shah, said, "Recent news of Samsung ramping up research and development around an ARM-based server system chipset leaves us optimistic about the company’s opportunity in the market. We believe the migration toward low power solutions within the server market will drive demand for ARM’s power efficient designs. We think there will be at least two large name semiconductor players announcing ARM-based server solutions before the end of the calendar year with others to follow."
"Even with the relatively high valuation, we believe the compelling growth story combined with strong market opportunities give rise to a stronger rating. With our positive future outlook on ARM’s royalty revenue, we are upgrading the stock."
For an analyst ratings summary and ratings history on ARM Holdings click here. For more ratings news on ARM Holdings click here.
Shares of ARM Holdings closed at $23.38 yesterday.
Analyst, Aalok K. Shah, said, "Recent news of Samsung ramping up research and development around an ARM-based server system chipset leaves us optimistic about the company’s opportunity in the market. We believe the migration toward low power solutions within the server market will drive demand for ARM’s power efficient designs. We think there will be at least two large name semiconductor players announcing ARM-based server solutions before the end of the calendar year with others to follow."
"Even with the relatively high valuation, we believe the compelling growth story combined with strong market opportunities give rise to a stronger rating. With our positive future outlook on ARM’s royalty revenue, we are upgrading the stock."
For an analyst ratings summary and ratings history on ARM Holdings click here. For more ratings news on ARM Holdings click here.
Shares of ARM Holdings closed at $23.38 yesterday.
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