On June 11, ARM Holdings rose 3.09% in regular trading, trading at $325.52/share, with trading volume of $264 million. The rebound was primarily driven by Bank of America raising its target price on ARM from $245 to $335 while maintaining a neutral rating.
ARM had declined over 20% in the preceding two trading sessions amid a broad semiconductor selloff triggered by a 6% plunge in the Philadelphia Semiconductor Index. The stock had come under intense selling pressure as its forward P/E ratio surged to approximately 170x and its price-to-sales ratio reached 67x, prompting multiple Wall Street firms to issue valuation bubble warnings. Following the sharp correction, the investment bank upgrade provided a catalyst for short-term technical recovery.
Notably, Mizuho had previously raised its ARM target price from $425 to $500, while the FactSet consensus average target stands at $271.38 with an overweight rating. Within the Semiconductors sector, Intel rose 8.22%, Marvell Technology rose 3.80%, Advanced Micro Devices rose 2.81%, Micron Technology rose 1.05%, and NVIDIA rose 0.70%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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