Despite gains for many other chip stocks today, Arm Holdings (NASDAQ: ARM) stock is losing ground in Thursday's trading. The company's share price was down 4% as of 2:45 p.m. ET, according to data from S&P Global Market Intelligence.

Deutsche Bank published a new note on Arm before the market opened this morning. While analyst Ross Seymore issued a hold rating on the stock, he indicated expectations were high ahead of the company's upcoming earnings report and issued an eye-catching sales target.

On July 31, Arm is scheduled to report earnings for the first quarter of its current fiscal year -- a period that wrapped at the end of June. Ross Seymore, Deutsche Bank's lead analyst on the stock, views the upcoming earnings release as a key valuation test for the semiconductor specialist.

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Source Fool.com