UPDATE: Topeka Capital Markets Initiates Coverage On ARM Holdings on Embedded Expectations

In a report published Thursday, Topeka Capital Markets analyst Suji De Silva initiated coverage on ARM Holdings (NASDAQ: ARMH) with a Hold rating and price target of $42.

In the report, Topeka Capital Markets stated, "While we believe that ARMH has established a strong market position with high growth potential, we believe these expectations are embedded at current levels and would look for a more attractive entry point prior to getting aggressive on the stock."

ARM Holdings closed on Thursday at $41.22.