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ARM Arm Hldgs.

1,700.00
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
ARM Holdings Investors - ARM

ARM Holdings Investors - ARM

Share Name Share Symbol Market Stock Type
Arm Hldgs. ARM London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 1,700.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
1,700.00 1,700.00
more quote information »

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Posted at 21/8/2016 14:37 by togglebrush
PRESS
'


Extract.

The firm is set to receive backing from most investors on Thursday. The decision will be announced at a meeting the following Tuesday and shares in the FTSE 100 firm will be suspended from trading later the same week.

The deal is expected to complete after Softbank smoothed concerns about the future of ARM in the UK.
;
From my notes: Dividend XD 08 Sep Paid 10 Oct
Posted at 18/7/2016 12:39 by philanderer
City Index:

Chip designer ARM Holdings has agreed to be bought by Japan’s SoftBank for about $32bn.

The offer in sterling equates to £17, in cash, per share—a premium of 43% to ARM’s closing price on Friday.

The news sent the stock as much as 47.3% higher on Monday, signalling that most investors see a good chance that the deal will take place.

Reports this morning have been incrementally removing the most obvious remaining potential impediments, such as public interest grounds.

We do not think it likely that the offer will invoke more than routine scrutiny from the Competition and Markets Authority (CMA).

The latest ‘public interest’ guidance to Parliament backed by the CMA (January 2015) defines strategic, competition, and security concerns clearly.

There is little public evidence that ARM can be deemed to be a ‘sensitive’ company in any of the above ways.

We note Prime Minister Theresa May and Chancellor of the Exchequer Philip Hammond were briefed about the offer over the weekend.

That leaves the main risk to the deal a potential counterbid, by a more integrated chip sector player such as Intel and Samsung.

Both firms are in more favourable positions in their cash flow cycles than acquisitive Softbank. It is the most leveraged with c. $88bn net debt after purchasing loss-making Sprint for $22.2bn in 2013.

Intel might be motivated to make a counter offer by its notable failure to penetrate deeply into the mobile components space.

Samsung might spy an opportunity to synergise and expand its own chip manufacturing business.

Both would, like SoftBank, be mindful of how rare the current steep discount on British companies will turn out to be, following the pound’s fall to 30-year lows.

However Samsung, Intel and even slightly lesser rivals like Qualcomm, would also face tougher global competition scrutiny than SoftBank.

The almost 54 times operating profit value of SoftBank’s offer would already be a big ask for Intel and Samsung shareholder

As for traders who were not holders of ARM shares before Friday’s close, the risk-reward balance now depends mostly on the probability that Softbank’s bid might fail.

We do not see much chance of that right now, though the huge gap between Friday’s closing price and Monday’s lows might tempt.

Certain details of the takeover situation still bear some confirmation and that may make the 60 pence range between ARM’s highs and lows so far on Monday attractive to shorter term traders.
Posted at 18/7/2016 12:31 by philanderer
More brokers...

Analysts felt the deal is likely to go through given there is no existing conflict of interest for SoftBank in ARM's markets, with Berenberg saying a counterbid is "unlikely".

JP Morgan Cazenove refused to rule this out, however: "We believe this was an unsolicited bid for the company so we do not think the company has not been 'shopped' to other potential bidders meaning that if an independent bidder such as Softbank with a higher bid showed interest, the board could change its opinion. On the other hand we do not believe tech industry companies such as Intel, Apple are likely bidders because their bids create conflicts of interest as competitors (regulatory issues) and customers (to the business model)."

Kepler Cheuvreux recommended ARM Holdings shareholders accept the "generous" offer: "Even though a share price of 1,700p might have become reachable on a stand-alone basis, it likely would have taken ARM Holdings shares several years and required a lot of patience from investors."
Posted at 02/6/2016 07:28 by gengulphus
ARM needs a new story. In the past few years it developed a tag as the 'designer of chips for the iPhone' which is no longer applicable as iPhone sales have peaked.

I don't think that's a story that ARM have developed - rather, it's a story that those watching ARM have developed. Especially financial journalists, for whom the easy way to describe a company like ARM is to talk about the product using their processors that is most in the public eye, and the sort of investor that watches financial journalism rather than digging into the company's finances for itself.

If one does the latter, for e.g. the 2015 annual report, it is clear that processors for iPhones cannot make up all that big a percentage of ARM's revenues. If one looks at , the annual sales of iPhones appear to currently be in the region of 200-250 million. A big number, but ARM's royalties were earned on 14.8 billion processors shipped in 2015 - so processors for iPhones made up only something in the region of 1.5% of the total.

I would of course expect the royalty on an iPhone processor to be higher than average, so the percentage of royalty income (rather than of the number of processors shipped) due to iPhones will almost certainly be higher than that 1.5%. But based on various other figures in the annual report and background knowledge of other smartphones, etc, I would find it hard to believe that the percentage of ARM's revenues that are due to iPhones is into double digits.

As for what ARM's story is, as opposed to the most focused-on story of ARM-observers, what I've seen in at least the last few years of ARM's annual reports is that their story is much more broadly-based than on just mobile phones, let alone just iPhones. If they need a new story, it's because that story isn't sinking in with the financial journalists and some investors - not because a story they haven't put forward (*) is running out of steam.

(*) Or if they have put it forward, they've made a very poor job of it - a PDF search says that there is not a single mention of iPhones in their 2015 annual report!

Gengulphus
Posted at 13/5/2016 23:41 by philanderer
And a dividend received today :-)

'Has Apple run out of iDeas? Almost £140bn wiped off the value of the world's biggest company as iPhone sales slump'

Almost £140billion has been wiped off the value of Apple as investors fear the world's biggest company many have run out of big ideas.
Sales of the iPhone have slumped by 10million this year, and yesterday the jitters of shareholders were increased as Apple's sole supplier of microchips for the iPhone 7 announced that it was cutting production.


.........It follows a move by British chip designer ARM Holdings towards creating technology for the construction industry in a bid to diversify away from the slowing smartphone markets.

full article:
Posted at 22/4/2016 00:27 by philanderer
ARM Holdings plc (LON:ARM)‘s stock had its “buy” rating reiterated by stock analysts at Bryan, Garnier & Co in a research note issued to investors on Thursday, MarketBeat reports. They currently have a GBX 1,340 price target on the stock
Posted at 15/4/2016 11:23 by philanderer
Arm shares slip ahead of update

'Analysts say no new catalysts for share price expected'


After reaching a peak for the year last week, shares in Arm have been sliding back ahead of its first quarter results next Wednesday.

The chip designer is down 22.5p or 2% at 985.5p in early trading on Friday, amid a slowdown in the smartphone market. Analysts said there was little expectation that the company would unveil anything at its results which would boost sentiment. Broker Stifel issued a hold recommendation, with analyst Lee Simpson saying:

We continue to see Arm as a high quality tech story, but with little risk of new fundamental upside catalysts for the second and third quarter of 2016. Sales growth is still evident (up 18%/10% in 2016/2017), and we see scope for outperformance on..consensus, although mainly on dollar strength (the dollar strengthened 6%-7% versus the pound since last quarter).

The slowing growth in smartphones is well known now and is mitigated by a strong product cycle (64 bit CPUs). Networking markets share is expanding, but costs are rising (especially for servers, Internet of Things). Given our only small rise in estimates (mainly in line with foreign exchange), we maintain our hold rating.

Simpson added:

We think investors are only marginally less concerned with the smartphone unit growth slowdown in 2016 (Stifel estimate only around 4% unit growth this year to 1.49bn), but we don’t think future Arm value is in question.

Post MWC [last month’s Mobile World Congress in Barcelona], we think Arm has little new to say for the near term other than comfort with consensus and a need to keep ticking up operating expenditure levels for longer-term investment and hiring.

That said, we still think a lot of work is on-going for the mid-to long-term promise and still believe the business sits well relative to this (Networking, Internet of Things, Machine Intelligence, etc.).
Posted at 11/4/2016 20:38 by philanderer
ARM Holdings plc (LON:ARM)'s stock had its "buy" rating restated by equities research analysts at Bryan, Garnier & Co in a research note issued to investors on Monday
Posted at 01/4/2016 17:21 by philanderer
Hargreaves Lansdown..

'Five shares for growth investors'




And wasp , Greene King is tipped there as well - for income :-)
Posted at 11/2/2016 09:39 by philanderer
ARM cash return silence disappoints investors

The failure of micro-chip maker ARM (ARM) to return cash to investors may be disappointing.

Liberum analyst Eoin Lambe retained his ‘sell’ recommendation and target price of 650p following fourth quarter results. Shares in ARM fell 2% to 921p yesterday.

‘Q4 2015 earnings before interest and tax is 4% below consensus excluding a one-off $9 million royalty catch-up payment,’ he said.

‘There is no announcement on cash returns, which may disappoint some. ARM’s outlook statement appears cautious and we would expect consensus revenue estimates to nudge down.

‘Operational expenditure for full-year 2016 is also expected to be higher than forecasts – c.$522 million versus consensus at $500 million. Investors tend to focus on ARM’s royalty revenue and the underlying miss may dampen sentiment.’

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