ARM Holdings Spikes and 4 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM) was targeted by call buyers over the past week, indicates data from the major options exchanges. During the past five sessions, speculators on the International Securities Exchange and Chicago Board Options Exchange have bought to open 7,275 calls on BRCM, which easily outnumbers the 795 puts that were purchased around the same time. The resulting call/put volume ratio of 9.15 shows a strong preference for bullish options on the chip stock.
QUALCOMM Incorporated (NASDAQ:QCOM) price target was raised by Nomura Securities on Tuesday. The firm keeps its Outperform rating on the company and raises its price target from $70 to $75. This price target shows a 17.8 percent rise over the stock’s current price of $61.62.
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ARM Holdings plc (NASDAQ:ARMH) shares saw a 2.4 percent increase, after it announced that it joined various major technology companies called Bridge Crossing LLC, which entered into an agreement with vendor MIPS to gain the rights to its patent portfolio for $350 million in cash, of which ARM’s contribution would be $167.5 million.
Rackspace Hosting, Inc. (NYSE:RAX) has begun a product certification program for partners using its private cloud service, reports CRN.com. The two certifications, revealed at the opening of the OpenStack Design Summit in San Diego, are intended to assistin in simplifying it for solution providers and businesses to use Rackspace’s OpenStack private cloud service. Rackspace hopes to foster the adoption of the OpenStack standard and help make it easier for businesses to use its private cloud, which is becoming more in demand for enterprises that want the savings and efficiency of hosting data centers off-premise but the security of a specialty service cloud.
SanDisk Corp. (NASDAQ:SNDK) shares have been upgraded to Neutral by Zacks in a report that was released on Thursday. As of now, Zacks gives the shares a $52.00 price target. Zacks’ analyst wrote, “SanDisk posted stellar third quarter results with both the bottom and top lines surpassing the Zacks Consensus Estimates. Though the results came below the year-ago levels, the sequential comps were better than expected. Revenues from OEMs and Retail started recovering. Fourth quarter guidance was encouraging too. Though lackluster PC sales, European issues, competition from Micron Technology Inc. and currency fluctuations could hurt the fundamentals a bit, we remain overtly positive on management’s commentary of a turnaround story in the coming quarter and beyond and strong secular demand for NAND flash. We upgrade the stock to Outperform.”
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