Benchmark Sees Buying Opp in ARM Holdings (ARMH), Upgrades to Buy
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Price: $10.12 -3.16%
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark upgraded ARM Holdings (NASDAQ: ARMH) from Hold to Buy with a price target of $45.00 (from $44.00). Analyst Gary Mobley thinks the recent sell-offer creates a buying opportunity.
"ARM shares were priced for perfection at the peak of $50.56. More recently, the Intel camp has achieved some design wins in the tablet market. NVIDIA has talked about licensing GPU technology, thus potentially competing with ARM Mali and Imagination’s PowerVR GPU IP. There have also been fears that the smart phone market growth is going to be increasingly fueled by sub-$100 smart phones, which may hurt ARM’s royalty rate per unit. We think these bear-case concerns are valid; however, these risks for ARM have always existed and perception is the main item that has changed within the past five weeks," said Mobley.
For an analyst ratings summary and ratings history on ARM Holdings (NASDAQ: ARMH) click here. For more ratings news on ARM Holdings click here.
Shares of ARM Holdings closed at $36.31 yesterday.
"ARM shares were priced for perfection at the peak of $50.56. More recently, the Intel camp has achieved some design wins in the tablet market. NVIDIA has talked about licensing GPU technology, thus potentially competing with ARM Mali and Imagination’s PowerVR GPU IP. There have also been fears that the smart phone market growth is going to be increasingly fueled by sub-$100 smart phones, which may hurt ARM’s royalty rate per unit. We think these bear-case concerns are valid; however, these risks for ARM have always existed and perception is the main item that has changed within the past five weeks," said Mobley.
For an analyst ratings summary and ratings history on ARM Holdings (NASDAQ: ARMH) click here. For more ratings news on ARM Holdings click here.
Shares of ARM Holdings closed at $36.31 yesterday.
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