Benchmark Downgrades ARM Holdings (ARMH) to Hold
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Price: $11.71 --0%
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Benchmark downgraded ARM Holdings (NASDAQ: ARMH) from Buy to Hold with a price target of $42.00.
The firm comments, "Shares of ARM Holdings have been one of the best performing tech stocks in the market. During the past year, ARM shares have risen 55% (vs. a 13% rise for the NASDAQ) and the shares now trade at ~50.0x our FY13 non-GAAP EPS estimate of $0.84. There is good reason for the positive investor sentiment as ARM is at the epicenter of a secular change in computing. This said we believe investor expectations have become a little too bullish."
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 $41.43 yesterday.
The firm comments, "Shares of ARM Holdings have been one of the best performing tech stocks in the market. During the past year, ARM shares have risen 55% (vs. a 13% rise for the NASDAQ) and the shares now trade at ~50.0x our FY13 non-GAAP EPS estimate of $0.84. There is good reason for the positive investor sentiment as ARM is at the epicenter of a secular change in computing. This said we believe investor expectations have become a little too bullish."
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 $41.43 yesterday.
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