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Director sells an ARM and a leg worth of shares

Mon, 27th Feb 2012 15:59

Mike Inglis, the Executive Vice President and General Manager of the Processor Division of ARM, the FTSE 100 chip designer, has sold more than half his stake in the firm.

Inglis, who took up his role in July 2008, sold 291,651 at 562.25p each for a total of ?1,639,808, taking his total number of shares to 200,000.

The sale comes less than a month after the group's strong growth in licensing revenues helped it beat forecasts in the fourth quarter and for the full-year.

Fourth quarter sales totalled ?137.8m, up from ?113.9m the year before and well ahead of the ?127m expected by Bloomberg consensus, as the group sold 2.2bn of its ARM technology-based chips, the highest-ever number of ARM-processor based shipments.

Full-year revenues rose 21% from ?406.6m to ?491.8m in the 12 months ended December 31st, compared to Nomura's forecast of ?475m. Meanwhile, pre-tax profits jumped 37% from ?167.4m to ?229.7m, under Nomura's ?215m estimate. Earnings per share rose from 9.34p to 12.45p.

ARM shares have lost over 5.5% of their value over the past year and almost 4% over the past month, currently at the 574.00p mark.

Top Director Buys

Assura Group Ltd. (AGR)

Director name: Mr Simon T Laffin

Amount purchased: 618,793 @ 32.00p

Value: ?198,014

Real Estate Credit Investments PCC Ltd (RECI)

Director name: Lord Tom Chandos

Amount purchased: 220,000 @ 84.75p

Value: ?186,450

Impax Asian Environmental Markets (IAEM)

Director name: Mr Alan Barber

Amount purchased: 96,000 @ 87.30p

Value: ?83,808

Sound Oil (SOU)

Director name: Mr John Antony Heath

Amount purchased: 1,300,000 @ 1.40p

Value: ?18,200

Top Director Sells

ARM Holdings (ARM)

Director name: Mr Mike Inglis

Amount sold: 291,651 @ 562.25p

Value: ?1,639,808

Impax Asian Environmental Markets (IAEM)

Director name: Mr Alan Barber

Amount sold: 95,786 @ 87.25p

Value: ?83,573

Rathbone Brothers (RAT)

Director name: Mr Richard I Smeeton

Amount sold: 6,500 @ 1,260.00p

Value: ?81,900

Related Shares:
Sound Energy (SOU)

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