Today's noteworthy upgrades include: ARM Holdings (ARMH) upgraded to Buy from Hold at Jefferies
Jefferies upgraded ARM Holdings to buy from hold, saying the U.K.-based microchip designer remains well-positioned for the mid to long term, given rising royalty rates and record licensing, among other things. Overall, Jefferies said it expects earnings growth to continue largely unperturbed through 2013-2016
ARM Holdings (ARMH) is considering plans to provide complete platform solutions to help second-tier IC design houses catchup with Qualcom (QCOM) and Nvidia (NVDA) in 2013, reports DigiTimes. According to Taiwan-based chipmakers, the strategy would also help the company to better defend against its competitors.
ARM Holdings U.K.-based designer of chips used in top mobile computing devices eased in soft trade from a March 5 high.
But the growth in their primary market of smart phones appears to be slowing. This would imply that the 40 percent growth rate projected is questionable. At 80x this years earnings, this one looks a bit pricey. It could be a long way down if they fall short.