Dallas, Texas 05/22/2014 (FINANCIALSTRENDS) – The stock of ARM Holdings PLC (ADR)(NASDAQ:ARMH) was reaffirmed a “buy” rating by the equities research analysts at CanaccordGenuity in a research note released yesterday. Separately, investment analysts at Credit Suisse also restated their “outperform” rating for the stock in a research note yesterday. The stock was recently reassigned an “overweight” rating by analysts at Barclays in a research note issued on Monday, May 19, 2014.
Investment analysts at Goldman Sachs also reaffirmed a “buy” rating for the stock of ARM Holdings in a research note issued on Thursday, May 15, 2014. Thirdly, equity analysts at Galvan Research also reaffirmed a “buy” rating for the stock of ARM Holdings in a research not issued on Wednesday, May 14, 2014. However, equities research analysts at Citigroup Inc. downgraded their rating for the stock of ARM Holdings to a “neutral” rating from a previously announced “buy” rating in research note issues late last month.
Consensus Rating and Stock Update:
The stock of ARM Holdings PLC (ADR)(NASDAQ:ARMH) has been assigned a “hold” rating by eleven research analysts; and a “buy” rating by fourteen research analysts. The stock of the company presently has a consensus rating of “buy” with an average price objective of $49.56. Yesterday, the stock closed at $44.35, gaining 3.55% from its previous close. The stock lost around 11.14% during past one month trade.
Annual Analyst Day:
ARM Holdings PLC (ADR) (NASDAQ:ARMH) recently held its annual analyst day event in London where it discussed about company’s business strategies and financial earnings, however, no new financial guidance was introduced at the event.
During the event, Chief Executive Officer of ARM Holding, Simon Segars mentioned about the overall strategy for gaining market share; Chief Financial Officer, Tim Score updated the analysts on company financials; and other executives discussed the three key markets for the company’s chip technology including networking, mobile and server markets.