ARM Holdings Up On Barrons Mention

ARM Holdings plc ARMH shares are higher this morning after the company was mentioned positively in Barron's this weekend. Barron's interviewed Bob Turner of Turner Investments and discussed the smart-phone trade, of which ARM Holdings is a major beneficiary. Regarding ARM, Turner in the interview said, "Its chips and intellectual property can be found in most smartphones and tablets. Industry projections are that by 2015, there will be 10 billion of these mobile devices worldwide. ARM should continue its dominance in these devices. And Microsoft adopted ARM in Windows 8, which should allow ARM to get a foothold in PCs, and perhaps even the server marketplace. We think the company can earn 80 cents a share in 2012, versus 60 cents this year. With business booming, it can grow at double its historical rate of 25%. That's why we're willing to pay a high multiple—45 times forward earnings this year and 34 times next year. The stock trades at 27. We have a 12-month price target of 35." At last check, shares of ARM Holdings were up 13 cents to $28.20, a gain of 0.46%‎.