Arm Holdings shares reached a new all-time high on Thursday. The stock climbed more than 13% during mid-day trading to a peak of $349.42.
Mizuho analysts raised their price target on the stock from $290 to $360. The firm maintained an Outperform rating for the semiconductor design company. Analysts expect robust demand for memory chips to continue through 2027. The market for high-bandwidth memory also continues to expand.
Bernstein initiated coverage of Arm with an Outperform rating. Analysts cited the company's strong position in the shift toward advanced artificial intelligence. The rally follows strong quarterly earnings and rising demand for AI-focused processors.