Arm initiated with an Overweight at KeyBanc

KeyBanc initiated coverage of Arm with an Overweight rating and $65 price target. The analyst believes Arm will increasingly benefit from key semiconductor design trends, including rising chip complexity, as evolving compute chip architectures increasingly compensate for scaling challenges as a result of the demise of Moore’s Law. The company stands to benefit as computing requirements across mobile, data center, auto, and internet of things become increasingly more demanding and complex, the analyst tells investors in a research note.