UPDATE: Morgan Stanley Downgrades ARM Holdings to Equal-Weight on Valuation
Morgan Stanley downgraded ARM Holdings (NASDAQ: ARMH) from Overweight to Equal-weight.
Morgan Stanley noted, "ARM's share price has rocketed strongly on expectations that 1) it would take significant market share in the mobile computing market, micro-server and infrastructure markets; and 2) the launch of new architecture such as big.LITTLE would lead to higher royalty rate. Everything we were hoping for 12 months ago is now taken for granted due to strong news flow, including the iPad mini launch, disappointing Ultrabook launch and weak PC sales. It will be difficult for news flow to improve from here, and ARM could still lose sockets here and there."
ARM Holdings closed at $42.40 on Monday.
Latest Ratings for ARMH
|Sep 2015||Stifel Nicolaus||Initiates Coverage on||Buy|
|Sep 2015||Pacific Crest||Maintains||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.