ARM price seems to be going through a three month flattish period after a 1 year or so steady rise. Any views on what might happen next?

Has anyone got any thoughts rearding why ARM's price is going up while everything else is going down?

Autonomy effect?

Numis comment:
Upgrading to Buy from Add following share price weakness, positive prospects in consumer computing and positive read across from HP acquisition of Autonomy.

We believe ARM is the best way to gain exposure to a rapidly changing landscape for consumer computing (as evidenced by HP looking to exit PC business and abandoning its new smartphone and tablet products). There are strong opportunities for ARM to earn higher royalties as it enables this change. One or two % points change to world GDP growth is immaterial to the long term structural growth investment case.

The stock should continue to trade at high P/E multiples or otherwise fall prey to another cash rich tech goliath in the same way Autonomy has. We believe the depressed share price following recent market turmoil represents a buying opportunity. Current P/E is 40.2x FY11E and 30.7x FY12E.

The new Iphone 4s uses the a5 dual processor - so may give ARM a fillip today?

Great news out later this evening.......

http://www.ft.com/cms/s/2/c18f84e4-fa6d-11e0-8fe7-00144feab49a.html?ftcamp=rss#axzz1bHaTdkJM

3rd Quarter Results.

Easily beat in fact smashed broker forecasts of pre tax profit of 47.6 and EPS of 2.7p, this is what BNP Paribas was looking for.

Revenue ($m)
192.3
158.1
22%

192.3
158.1

Revenue (m)
120.2
100.4
20%

120.2
100.4

Operating margin
44.6%
37.7%


34.0%
18.6%

Profit before tax (m)
55.8
38.8
44%

43.0
19.6

Earnings per share (pence)
3.05
2.08
47%

2.29
1.09

Net cash generation**
43.7
65.0

GF - it made a mess when I cut and pasted it - so I didn't bother :-)

Heres a better one Skinny...


UPDATE 1-Strong licensing helps ARM beat expectations
25 Oct 2011 - 07:30

* Q3 revenue 120.2 mln stg (Company poll 116.5 mln stg

* Sees full-year revenue in line with forecasts of $763 mln

* Says healthy licensing pipeline


(Adds details)

LONDON, Oct 25 (Reuters) - Britain's ARM Holdings reported strong licensing of its chip designs in the third quarter, helping it beat market expectations and offset current weak demand in consumer electronic markets ahead of the holiday season.

The company, whose processor architecture powers Apple's iPad and new iPhone 4S, reported a 44 percent rise in pretax profit to 55.8 million pounds on revenue up 20 percent to 120.2 million pounds, both ahead of analysts' consensus. Earnings per share of 3.05 pence also delivered a beat.

"Notwithstanding the below seasonal activity levels in the wider semiconductor industry, we expect that group dollar revenues for the full-year 2011 will be in line with current market expectations of around $763 million," the Cambridge-based company said on Tuesday.

ARM reports royalties a quarter in arrears, so it has less visibility on demand in consumer electronic markets than its chip-making partners such as Samsung and Texas Instruments.

The group, which recently unveiled its latest low-energy chip design, the Cortex-A7, said it signed 28 processor licenses in the quarter. [ID:nL5E7LJ42H]

It said it had a healthy opportunity pipeline for licensing and a historically high order backlog, which pointed to another strong quarter for license revenue in its fourth quarter.

Analysts expected ARM to post pretax profit of 51.1 million pounds on revenue of 116.5 million pounds, equating to earnings per share of 2.75 pence, according to a company-supplied consensus.


(Reporting by Paul Sandle)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))

Keywords: ARM/

Goldfinger - as always - an amazing company.

Bit of a blow to Intel and BIG News for ARM if true

http://online.wsj.com/article/BT-CO-20111025-723371.html

ARM Acquires Prolific, Inc.

Enhancing Physical IP Library Development for Advanced Process Nodes

CAMBRIDGE, UK, Nov. 1, 2011-- ARM [(LSE:ARM); (Nasdaq:ARMH)] today announced that it has acquired Prolific, Inc., which develops leading-edge IC design optimization software tools that significantly reduce development time and improve the performance of cell-based designs. Prolific is a privately-owned company based in Newark, California.

Hewlett Packard to build servers using ARM-based chips

Hewlett Packard plans to make computer servers using low-energy processors based on ARM Holdings' designs.

HP said the equipment would be cheaper to run than current alternatives.

UK-based ARM's chip architecture had been developed for use in smartphones and other mobile devices.

The British firm said the deal was "a first step" towards increasing its presence in a sector dominated by Intel's X86-based processors.

Looking at 640 again.

ARM's new GPU chip design aims to boost mobile graphics

British computer chip designer ARM has unveiled its latest graphics processing unit (GPU) for mobile devices.

The Mali-T658 offers up to ten times the performance of its predecessor.

RNS Number : 8468R

Arm Holdings PLC

10 November 2011

ARM Holdings plc ("the Company")

10 November 2011

Board change

Tudor Brown has advised the Company that he wishes to retire from the board and therefore will not be seeking re-election at the forthcoming Annual General Meeting, scheduled for 3 May 2012. He will leave the Company then. Tudor is one of the founders of the Company and worked on ARM-related products before ARM was formed. He has worked in a variety of roles including Engineering Director and Chief Technology Officer, EVP Global Development and Chief Operating Officer. He joined the board in 2001 and became President of the Company in 2008 with responsibility for developing high-level relationships with industry partners and governmental agencies and for regional development in AsiaPac.

Tudor Brown said:

"I am very proud to have been so closely involved in building ARM to be the highly successful and respected company that it is today. I know that ARM is in a very strong position and I look forward to watching it grow further in the future."

Doug Dunn, Chairman, said:

"Tudor has played an important role in the creation and successful development of ARM over the past 21 years and has made an immense contribution in a wide range of positions. We will miss his incisive and thoughtful contributions and thank him and wish him well for his retirement."

yep remember arm when it was <100 - done very well - isnt the sompetition getting close now and decline in some mkts?

ARM Holdings warns of slowdown in licensing revenues

ARM Holdings, the Cambridge-based microchip designer, expects the semiconductor industry to grow by a few percent in 2012 but has warned of a slow down in licensing revenues.

Results on Tuesday -

Ace computer chip designer ARM Holdings has rewarded investors handsomely in recent years, more than six-bagging from a low point of 79p in 2008 to 598p today. The tantalising prospect of WinARM edging out WinTEL over the next few years hasn't done its prospects any harm, either.

There is strong earnings growth expected for 2011, but at 598p and a P/E of 54, a fair bit of that future potential is clearly already in the price, which looks too high to me. With a dividend yield of just 0.5%, it's perhaps not one for retired income-seekers, but we might just be at the start of a new golden era.

Fourth Quarter & Full Year Results

Progress on key growth drivers in Q4

-- Growth in adoption of ARM(R) processor technology
o 25 processor licenses signed, including the first lead licenses for processors based on the new ARMv8-A architecture

o 9 Cortex(TM)-A and 8 Cortex-M family processor licenses signed

o Many of the advanced processor licenses signed with companies developing smarter consumer electronics technology such as digital TVs, mobile computers and smartphones

-- Growth in shipments of chips based on ARM-processor technology
o 1.2 billion chips shipped into mobile phones and mobile computers, up 10% year-on-year

o 1.0 billion chips shipped into consumer and embedded digital devices, up 40% year-on-year

-- Growth in outsourcing of new technology
o Physical IP: 20nm royalty-bearing platform signed with major foundry and 3 Processor Optimisation Pack (POP) licenses signed for Cortex-A series processors

o Mali(TM) Graphics: 5 Mali licenses signed for digital TV, mobile computing and smartphones

Warren East, Chief Executive Officer, said:

"In Q4 and throughout 2011 ARM has seen strong licensing growth, driven by market-leading semiconductor companies increasing their commitment to ARM technology, and more new customers choosing ARM technology for the first time. We have also seen our royalty revenue continue to grow faster than industry revenues as the ARM Partnership gains share in our target markets.

2012 will bring exciting opportunities and challenges as ARM enters competitive new markets where we are well positioned to succeed with leading technology, an innovative business model and a thriving ecosystem of Partners. As our customers are designing more ARM technology into their widening product portfolios, ARM is investing in the development of new products. These products will drive further long-term growth in our revenues, profits and cash."

Outlook

ARM enters 2012 with a robust opportunity pipeline for licensing and a record order backlog, helped by new product introductions and new markets. In addition, market share gains in long-term growth sectors look set to continue as our Partners introduce new chips based on ARM technology. Given industry analysts are forecasting that semiconductor revenues declined about 10% sequentially in Q4 and given ARM's very strong license revenues in Q4, we expect group dollar revenues for the first quarter to be in-line with current market expectations of around $200 million.

For full-year 2012, the global macro-economic situation remains uncertain and is likely to influence consumer and enterprise spending, thereby potentially impacting semiconductor revenues and industry confidence. Assuming the macroeconomic situation does not deteriorate significantly, we expect group dollar revenues for the full-year to be at least in line with current market expectations of just over $860 million.