Nasdaq announced late Thursday that Arm Holdings (NASDAQ:), a UK-based, US-listed Company, will become a component of the Nasdaq-100 Index and various other Nasdaq indices.
The semiconductor firm is set to replace Sirius XM in the Nasdaq-100 Index and the Nasdaq-100 Equal Weighted Index prior to market open on Monday, June 24, 2024.
Arm will also join the Nasdaq-100 Equal Weighted Index, the Nasdaq-100 Tech Sector Index, the Nasdaq-100 Technology Sector Market-Cap Weighted Index, and the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted Index.
In a note to clients earlier this month, analysts at Rosenblatt reiterated a Buy rating and $180 price target on Arm, telling investors they see it as a top secular pick alongside NVDA.
“We believe that the positive ARM PC and overall compute themes showcased last week at Computex in Taiwan will benefit the increasing pervasiveness of the company’s IP in the future,” said the investment firm.
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