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ARM's profit surge extends rally By Harriet Mann | Wed, 21st October 2015 - 13:33 ARM's profit surge extends rally With premium prices and higher royalty rates, growing demand for devices using Arm's () v8 chips has driven another amazing performance at the resurgent chip designer. They help make the new iPhone 6 work, but concerns over China's economic slowdown had triggered a share sell-off over the summer. Now, with business clearly booming and demand for electronics likely to surge in the busy Christmas period, investors are piling back in. Experts reckon further upside is likely. Jumping 24%, sales hit £243.1 million in the three months to 30 September, driven by a 37% increase in processor royalty turnover - representing the bulk of group revenues - and a 5% increase in licensing revenue. With 38 licences for a broad range of applications signed in the period, the adoption of ARM technology is clearly not slowing. Over 3.6 million chips were shipped in the quarter. Underlying pre-tax profit and earnings per share rose by 27% to £128.4 million and 29% to 7.6p respectively. Gross margin of 96.3% is ahead of consensus, too. "The company is in a purple patch at the moment with a large number of v8 based end devices now coming to market," said Investec analyst Julian Yates. "While we suspect some of the Q3 beat was driven by some Q4 'pull forward' in terms of customer device releases, we think the company should still be able to deliver sequential Q4/Q3 royalty growth, but not as marked as in previous years." However, the group generated less cash than last year (at £86.6 million) and its fourth-quarter investment budget of £117-£119 million is slightly ahead of expectations, given its additional investment in enterprise infrastructure and opportunities for new revenue streams from the Internet of Things. With strong royalty momentum and a healthy licensing pipeline behind the group as it enters the final quarter of the year, management are confident they will meet expectations. Succumbing to wider market pressures and weak macro concerns, a harsh sell off cost ARM nearly a quarter of its market value in August, with the shares bottoming out at 812p on what is now known as Black Monday. After industry M&A talk supported a further recovery last week, this better-than-expected update pushed the shares to 1,057p through the 200-day moving day average. Losses since July have now been won back. Yates thinks the shares are worth 1,200p. Numis analyst Nick James reckons it could be as high as 1,350p. "[The] stock trades at P/E of 34x/28x FY15E/16E, which is at the bottom of its historic range of 30-55x, whereas we believe ARM's prospects to sustain historic growth rates are as strong as ever."

Investec Reiterates Buy Rating for ARM Holdings plc (ARM) October 21st, 2015 • 0 comments • by ABMN ARM Holdings plc (LON:ARM)‘s stock had its “buy” rating reissued by equities researchers at Investec in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a GBX 1,200 ($18.52) price objective on the stock. Investec’s price objective would indicate a potential upside of 24.61% from the company’s currentprice. Shares of ARM Holdings plc (LON:ARM) opened at 1029.0000 on Wednesday. The company’s market cap is GBX 14.52 billion. ARM Holdings plc has a 12 month low of GBX 778.50 and a 12 month high of GBX 1,332.50. The stock’s 50 day moving average is GBX 949.31 and its 200-day moving average is GBX 1,035.63. A number of other research firms also recently issued reports on ARM. Credit Suisse reissued an “outperform” rating and set a GBX 1,300 ($20.07) target price on shares of ARM Holdings plc in a research report on Tuesday, July 7th. Numis Securities Ltd reaffirmed a “buy” rating and issued a GBX 1,350 ($20.84) price target on shares of ARM Holdings plc in a report on Monday, August 3rd. Natixis reissued a “neutral” rating and set a GBX 1,000 ($15.44) target price on shares of ARM Holdings plc in a report on Wednesday. Barclays dropped their price target on shares of ARM Holdings plc from GBX 1,300 ($20.07) to GBX 1,250 ($19.30) and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Finally, Liberum Capital reiterated a “sell” rating and issued a GBX 650 ($10.03) target price on shares of ARM Holdings plc in a research report on Thursday, September 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of GBX 1,145.32 ($17.68). In other news, insider Chambers,Stuart J acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average price of GBX 994 ($15.34) per share, for a total transaction of £99,400 ($153,442.42). Also, insider Green,Andy acquired 5,250 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average price of GBX 953 ($14.71) per share, for a total transaction of £50,032.50 ($77,234.49). ARM Holdings plc (LON:ARM) is a United Kingdom-based company engaged in designing of microprocessors, physical intellectual property (IP) and associated technology and applications, and sale of development applications. The Company’s offers products, for example 16/32/64-bit RISC microprocessors, data engines, images chips, digital libraries, embedded memories, peripherals, applications and de

ARM..... ARM HOLDINGS..... SP as responded very strongly to results today which were AHEAD of Broker Consensus figures. The SP should continue to rise going forward. <img src="http://content.screencast.com/users/mickkipper/folders/Default/media/2e972a0e-54b8-4981-ab68-b5546806a8e6/arm%204.jpg"> Broker Aviate......BUY Q3 Sales £243m ahead of £240m, EPS inline. The power of the long term business model is coming through. Need proof? End semi market is growing just 2% (Gartner, WSTS estimates etc) in 2015 so note ARM's sales are +23% YoY year-to-date. Key royalty growth is up an outstanding +37% YoY in US$ terms in Q3 versus market growth of -2%. Simply stunning. What’s more Q3 delivered accelerating growth: headline 24% sales growth in sterling terms and 17% in USD, thanks to the two key metrics of processor licensing +9% in Q3 (+6% YTD) and royalty processors +48% in Q3 (+45% YTD). High end, high royalty v8a penetration is an incredible 60% of smartphone design wins. Could be as high as 75% at the exit run rate of Q4 (had previously expected 60% at end of year). Now you must remember that ARM reports revenues one quarter after licensees shipments in Q2. So it is worth remembering that Q2 was when smartphone chip volumes and end markets reportedly fell off a cliff (over a dozen related semiconductor company warnings). So these great set of results mean just one thing. ARM is gaining further market share, higher ARM content, and higher royalty rate and newer technology take rates. 36 processor licenses signed which is a driver of future royalty growth. Solid. 50% of new Mali licenses are for (higher royalty rate) next gen processors, six ARMv8 high margin processor licenses sold. It is the very essence of the leading edge solutions that is now clearly driving growth. Increasing royalty revenue due to increasing shipments of chips containing ARM's latest technology, ARMv8-A, big.LITTLE and Mali graphics. Overall 3.6 billion chips shipped in Q3, up 20% YoY. Next generation royalty rates have the potential to be 5x the rate they were in 2011. While operating expenses are likely to move higher in the short term this was well flagged at last month’s analyst day. ARM is beginning to see new adoption in servers and the datacentre. As we suggested last week on Intel’s results we suspected ARM was just beginning to sow the seeds of disruption in Intel’s DCG (Data Centre Group) which is 60% of Intel’s profits. ARM had less than 1% market share in servers in 2014 but have a path to a potential 25% share by the end of the decade. We view this set of results as indicative of ARM’s unique offering in providing an ecosystem across all verticals, all geographies, all end markets. ARM now signs more embedded device licenses (think Vehicles, smart cards, embedded computing etc.) than smartphones. The fact is whether Samsung lose share to Huawei and Xiaomi, for example,

ARM Holdings quarterly profit surges as full-year revenues remain in line Wed, 21 October 2015 Article viewed 180 times Share on Facebook ARM Holdings quarterly profit surges as full-year revenues remain in line ARM Holdings Quote more Price: 1,039.00 Chg: 76.00 Chg %: 7.89% Date: 11:30 (ShareCast News) - Shares in ARM Holdings surged after the chip designer posted a jump in third-quarter pre-tax profit as revenue grew on the back of premium chip pricing and the broadening adoption of its technology, and said it has entered the final quarter of the year with strong royalty momentum. Third-quarter pre-tax profit rose 27% on a normalised basis from the same period last year to £128.4m, on revenue of £243.1m, up 24%. Processor royalty revenue was up 37% on the year, while processor licensing revenue rose 5%. Chief executive Simon Segars said: "Q3 has been another strong quarter for royalty revenue growth, driven by premium chip pricing and elevated royalty percentages from recently introduced ARMv8-A based chips. "These new chips are now shipping in a wide range of devices including smartphones, enterprise equipment such as base stations and servers, and consumer electronics such as digital TVs." ARM said it has seen growth in the adoption of its processor technology, with 38 processor licences signed for a broad range of applications, from sensors to smartphones, to servers. In addition, it said it has maintained momentum in the licensing of advanced technology, underpinning future royalty revenue growth. The company also pointed to growth in shipments of chips based on ARM technology, with 3.6bn ARM-based chips shipped, up 20% year-on-year. ARM, which designs chips for Samsung and Apple, said it expects group dollar revenues for the full year to be in line with market expectations. Investec, which rates the stock at 'buy', said royalties were very strong, beating both its and consensus estimates of $169.4m and $167.7m, respectively. "These results show the strength of the royalty model, and support our positive view on the stock," said the brokerage. At 1103 BST, ARM shares were up 7.5% at 1,035p.

TWatcher 7 Mar'11 - 15:29 3 0 Check out my blog charting my challenge to have a maximum value rewards holiday:- http://www.goingonrewards.com Charts Intraday chart. Click to open a chart window 6 Month chart. Click to open a chart window Long Term Chart 2 Year chart. Click to open a chart window Fundamental Data Sector TECHNOLOGY HARDWARE & EQUIPMENT Mkt.Sector FS10 Mkt.Segment SET1 Turnover 795 Profit 317 Norm EPS 18.20 PE Ratio 52.91 Market cap 13,522 NMS - News 21/10/2015 07:00 UKREG ARM Holdings PLC ARM HOLDINGS PLC THIRD QUARTER RESULTS 01/10/2015 07:00 UKREG ARM Holdings PLC Total Voting Rights I'm not a big follower of ARM, but fed up seeing all the arm threads being spoiled by useless bot posters, so this one is a bot free zone. I will not be moderating this thread, except to remove useless repeatitive bot style postings. advertisement Go to previous 1497 jump to the specified article Submit market sniper1 20 Oct'15 - 22:02 - 1494 of 1497 0 0 edit HOW COME NOBODY SAW THIS TODAY!! ARM to Offer Cycle – Accurate Virtual Prototyping for Complex SoCs Through an Asset Acquisition from Carbon Design Systems 20-10-2015 08:00 http://pdf.reuters.com/htmlnews/8knews.asp? i=43059c3bf0e37541&u=urn:newsml:reuters.com:20151020:nBw205108a CAMBRIDGE, England--(Business Wire)-- ARM has acquired the product portfolio and other business assets of Carbon Design Systems (Carbon), a leading supplier of cycle-accurate virtual prototyping solutions, to deliver design optimization, time-to-market and cost-efficiency gains for its partners. As part of this acquisition, Carbon`s staff will transfer to ARM. This combination of assets and expertise will significantly enhance ARM`s capability in system-on-chip (SoC) architectural exploration, system analysis and software bring-up. It will also enable earlier availability of cycle-accurate models for future ARM® processors and ARM-based systems. The acquisition terms have not been disclosed. "Early stage virtual prototyping of complex SoCs is now mandatory for leading silicon vendors, as demonstrated by the success of ARM Fast Models," said Hobson Bullman, general manager, development solutions group, ARM. "The integration of Carbon`s virtual prototyping products into the ARM portfolio will deliver access to ARM IP earlier in the design cycle. This builds on the current industry leading solutions to enable further design optimization, time-to-market and cost-efficiency gains for our partners." Carbon has created a comprehensive library of ARM processor and system models that can be extended easily to create cycle-accurate virtual prototypes of any new ARM-based SoC. The technology relies on RTL compilation, to ensure perfect functional and cycle accuracy. This is essential when evaluating target benchmark performance in the earliest stages of SoC design. In

HOW COME NOBODY SAW THIS TODAY!! ARM to Offer Cycle – Accurate Virtual Prototyping for Complex SoCs Through an Asset Acquisition from Carbon Design Systems 20-10-2015 08:00 http://pdf.reuters.com/htmlnews/8knews.asp? i=43059c3bf0e37541&u=urn:newsml:reuters.com:20151020:nBw205108a CAMBRIDGE, England--(Business Wire)-- ARM has acquired the product portfolio and other business assets of Carbon Design Systems (Carbon), a leading supplier of cycle-accurate virtual prototyping solutions, to deliver design optimization, time-to-market and cost-efficiency gains for its partners. As part of this acquisition, Carbon`s staff will transfer to ARM. This combination of assets and expertise will significantly enhance ARM`s capability in system-on-chip (SoC) architectural exploration, system analysis and software bring-up. It will also enable earlier availability of cycle-accurate models for future ARM® processors and ARM-based systems. The acquisition terms have not been disclosed. "Early stage virtual prototyping of complex SoCs is now mandatory for leading silicon vendors, as demonstrated by the success of ARM Fast Models," said Hobson Bullman, general manager, development solutions group, ARM. "The integration of Carbon`s virtual prototyping products into the ARM portfolio will deliver access to ARM IP earlier in the design cycle. This builds on the current industry leading solutions to enable further design optimization, time-to-market and cost-efficiency gains for our partners." Carbon has created a comprehensive library of ARM processor and system models that can be extended easily to create cycle-accurate virtual prototypes of any new ARM-based SoC. The technology relies on RTL compilation, to ensure perfect functional and cycle accuracy. This is essential when evaluating target benchmark performance in the earliest stages of SoC design. In future, Carbon products will be marketed as ARM Cycle Models and will remain available from ARM IP Exchange. ARM will also continue to offer Carbon`s solutions for model generation and SoC analysis. The company, which is based in Massachusetts, US, already works with the world`s leading semiconductor vendors, all of whom license ARM processor IP. "Early analysis of system-level performance and power is critical in multicore ARM-based SoC architectures," said John Koeter, vice president of marketing, IP and prototyping, Synopsys. "We look forward to expanding our successful virtual prototyping collaboration with ARM by combining ARM Cycle Models with Synopsys Platform Architect™ MCO's leading architecture analysis technology so our mutual customers can get to the best architecture sooner while avoiding costly over-design." "Our use of system modeling technologies from Carbon Design Systems has been constantly expanding over the past several years," said Yanqiu Diao, deputy general manager, Turing Processor business unit at

ASC As Seen On Screen Results this morning (below) well received by the market, the stock looks to have plenty of upside as long as discretionary spending does not get hit by economic matters in the future. http://www.investegate.co.uk/asos-plc--asc-/rns/final-results/201510200700057448C/ http://content.screencast.com/users/mickkipper/folders/Default/media/7edf20f7-4c36-449c-b6a8-c3354bbcb145/asc%201.jpg Broker Cantor: HOLD Final results were broadly in line with our and market expectations. Pre-tax profits in the year to end of August rose by 1% to £47.5m vs. CFE Research £48.0m (Company consensus: £47.2m). Gross margins were reported to be up by 20bps to 49.9% (CFE Research -8bps) recovering strongly in the second half as a result of a strong full price sales mix in this period. Gross margins, however, declined by 230bps in Europe to counter adverse currency exchange movements. Costs were up by 21% impacted by higher payroll and warehousing charges offset by lower marketing. Net cash was much stronger than our forecast at £119.2m benefiting from working capital gains. The current year has started well and the company are guiding toward sales being up by 20%, gross margins being down by 50bps and operating margins being in line with the previous year at broadly 4.1%, which implies earnings growth of c.20%. Following this update, we are retaining our FY2016 pre-tax profit forecast of £58.0m (EPS: 53.7p). The stock, which has declined from a high of £42, has started to recover from September’s low of £25. The company is now of a meaningful size with sales forecast at over £1.3bn in FY2016, has relatively strong cashflow and a ‘state of the art’ logistics infrastructure. Earnings, however, have declined over the last two years and although they are set to improve in the current year, the improvement in momentum, we believe, is priced into the stock. The departure of Nick Robertson as Chief Executive, who was the ‘guiding light’ of the business, is an added concern. The stock remains highly valued at 54.5x our FY2016 fully diluted earnings forecasts. We are reinstating our recommendation as HOLD from Under Review and our TP at 3000p from Under Review.

TCM Telit Communications.... Missed this yesterday...... Telit Signs US$220 Million Agreement to Supply Cellular Technology To Great Britain’s Smart Metering Implementation Project (“GB SMIP”) 19-10-2015 21:23 http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20151019:nBw196589a LONDON-- (Business Wire)-- Telit (AIM: TCM), a global enabler of the Internet of Things (IoT), announces that the company has secured a supply contract valued at up to US$220 million as one of the technology providers for the GB SMIP, Great Britain`s ambitious, world-leading £11.3bn Smart Metering infrastructure project. Supplies are expected to commence in Q4 2016 and continue through to the end of 2021. Telit IoT cellular modules are to power a portion of the nearly 30 million "comms" hubs bridging ZigBee data communication between the smart meters and either RF or cellular networks. Telit equipped cellular comms hubs will use a specially developed UE910 UMTS/HSPA module delivering the 3G backhaul communication, leveraging the company`s extensive experience in the energy market. Organized and run by the UK`s Department of Energy & Climate Change ("DECC"), the GB SMIP proposes to install smart meters in homes and businesses across the UK, targeting the vast majority of gas and electricity utility customers by 2020. The system will monitor consumption and provide information to help consumers and businesses use energy more efficiently. The DECC also expects GB SMIP to deliver a number of direct benefits to consumers, including an end to estimated billing, better support for microgeneration and exported energy billing, savings from better access to energy tariff price information, more reliable next-day switching and opportunity for new smart consumer products and services. "As a very active member of the UK`s BEAMA (British Electrotechnical and Allied Manufacturers` Association) and specifically its Comms Hub Working Group, Telit is not only proud to be selected as a supplier to this world benchmark project in smart metering, but also to be a part of the think tank that worked on key standards and technology foundation that made GB SMIP possible," said Oozi Cats, Chief Executive, Telit. "Telit has invested solidly in the special SMIP UE910 project as well as the manufacturing and logistics framework necessary to fulfil integration and rollout requirements from government as well as the various vendors involved in the project." About Telit Telit (AIM: TCM), is the global leader in Internet of Things (IoT) enablement. The company offers the industry`s broadest portfolio of integrated products and services for end-to-end IoT deployments – including cellular communication modules in all technologies, GNSS, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit mak

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