$Arm Holdings (ARM.US)$ Wall Street analysts initiated cover...

Wall Street analysts initiated coverage of Arm Holdings’s stock with mostly bullish appraisals, despite signs that investors have cooled on the chip designer’s shares since its buoyant market debut last month.

The expiration of the customary quiet period following its initial public offering last month means that analysts at the more than 25 firms - including Barclays Plc, and Goldman Sachs - that participated in the IPO can begin coverage of the chip designer. Monday saw a flurry of upbeat coverage, among some more cautious takes.

The shares trade at 52 times projected earnings, more than double that of the Philadelphia Semiconductor Index’s 21 times, data compiled by Bloomberg show.

Arm has 14 buy ratings, six holds and one sell with an average tp of about USD62, according to data compiled by Bloomberg. The stock had already attracted three holds and one sell rating from brokers not bound by the quiet period.