Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ARM HOLDINGS PLC. We currently have 9 research reports from 3 professional analysts.
|05Sep16 02:29||RNS||Appointment of directors to ARM Holdings plc|
|02Sep16 04:14||RNS||AGREEMENT REGARDING PAYMENT OF INTERIM DIVIDEND|
|02Sep16 12:22||RNS||PUBLIC DEALING DISCLOSURE|
|02Sep16 12:21||RNS||PUBLIC DEALING DISCLOSURE|
|02Sep16 12:15||RNS||PUBLIC DEALING DISCLOSURE|
|02Sep16 07:00||RNS||Treasury Stock/Share Allotment|
|01Sep16 12:53||RNS||Court sanction of Scheme of Arrangement|
Frequency of research reports
Research reports on
ARM HOLDINGS PLC
ARM HOLDINGS PLC
28 Jul 16
"The FOMC delivered much as expected. Rates were left on hold but, by stating that 'Near-term risks to the economic outlook risks have diminished', the door has been left open for its first rate hike since December 2015 with the hot money remaining on +25bp in September and another +25bp before the year end. Lacking new excitement, London equities are expected to open marginally down, with the FTSE-100 seen down between 5 and 10 points in early trade. US markets closed in a similar mood, with the Dow and S&P 500 left virtually unchanged, leaving only the technology-heavy NASDAQ celebrating better than expected results from Apple following the previous close. Sentiment in Asia continued to yo-yo on the longawaited Japanese stimulus package, forcing the Nikkei to give back half of yesterday's gains, while the Shanghai Composite remained nervous amid threats of new regulation on wealth management products, leaving only the commoditydominated ASX enjoying a small positive by the close. Amongst UK corporates, investors are now able to put a figure on the cost to BHP Billiton (BLT.L) shareholders over the Samarco Dam disaster, with the company indicating a US$1.1bn to US$1.3bn provision, while in yesterday's statement GSK's (GSK.L) Board suggested the post-Brexit fall in Sterling presents a mix of new challenges to the Group. This morning, UK markets anticipate release of the Nationwide House Price Index along with a heavy clutch of results including, Anglo American (AAL.L), AstraZeneca (AZN.L), BAE (BA..L), Centrica (CNA.L), Diageo (DGE.L), Rolls Royce (RR..L), Royal Dutch Shell (RDSA.L) and Weir Group (WEIR.L)." - Barry Gibb, Research Analyst
19 Jul 16
"With few significant new stories emerging overnight, equities in London will probably give back some of the M&A inspired gains recorded yesterday following Softbank's generous cash offer for UK technology stock, ARM Holdings. With crude oil prices seemingly stuck around their two-month low on continuing concerns of a glut in the face of much predicted slowing economic activity, the FTSE-100 is seen opening around 23 points lower this morning. US equity markets all gained modestly once again, leaving the Dow Jones with another record closing on Monday led mainly by financials, while the tech-heavy NASDAQ put in the best gains of the session. Asia closed mixed, with the Nikkei chalking up its sixth consecutive gain on Tuesday as it resumed trading after Friday's public holiday amid continuing anticipation its government's pending provision of new economic stimulation, although heavily indebted Softbank was sharply sold off on concerns that it may be overpaying for its proposed acquisition. Elsewhere, Chinese and Korean stocks weakened while Australia's commodity heavy market remained quiet with light trading. Today in London, politicians and lawmakers will continue heated discussions regarding the UK's proposed renewal of its Trident nuclear programme, while the Financial Stability Oversight Council will again discuss the effects of future actions to effect Brexit. Data watchers should anticipate UK Inflation and producer price data, along with release of the national House Price Index. No major corporates are due to release results this morning, although a trading update is expected from Royal Mail." - Barry Gibb, Research Analyst
ARM acquired by Softbank, putting the IoT back under the spotlight
18 Jul 16
ARM is about to be acquired by the Japanese conglomerate Softbank for £24.3bn in cash, corresponding to £17 per share, or a 43% premium. It must be approved by at least 75% of the shareholders, and according to the official announcement is not subject to any anti-trust or regulatory conditions before closing. The closing of the deal is expected by no later than 17 November 2016.
19 May 16
London equities are set for a relatively sharp decline on this morning's opening, with the FTSE-100 seen down as much as 1%, or around 60 points, during first trades. Driving this are the concerns expressed by the Federal Open Market Committee yesterday afternoon, which left investors with a sharp warning that an interest-rate increase is still a possible outcome from June's policy meeting should the domestic economy sustain its recent improvement. Fed Policy makers also raised additional concerns about the scope of their macroprudential tools required to sustain financial stability across the broader US economy. Japan and China made modest gains overnight, while most other Asian markets recorded small losses as investors similarly reflected on the cautions contained in the Fed minutes. Today, investors should expect UK retail sales data and the release of ECB policy meeting minutes, followed by US leading indicators, weekly jobless claims and a speech by Fed's Dudley this afternoon. Results are expected from 3i, Booker, Britvic, Investec, National Grid, Royal Mail andThomas Cook.
Royalties above expectations, as well as opex
20 Apr 16
ARM reported Q1 revenues of $398m, a 2.4% sequential decrease but an increase of 14.3% yoy. In sterling, revenues reached £276.4m, corresponding respectively to a sequential increase of 2.7% and 25.4% yoy. Licensing revenues have increased by 11.3% yoy to $148.3m, for a 6.4% sequential decrease, while royalty revenues were flat sequentially and increased by 16.8% yoy to $215.7m. Thirty-nine licences have been signed during the quarter, of which four were v8. The gross margin reached 96.5%, a slight increase (+20bp) on the previous quarter. The normalised operating margin came in at 48.6%, a 190bp sequential decrease caused once again by a substantial jump in operating expenses (£132.9m vs. £123.9m), while the IFRS operating margin reached 39.7%, down 130bp sequentially and 490bp yoy. This led to a normalised profit before tax of £137.5m (£112m in IFRS). Due to the current slowdown in the smartphone market, the company expects the full-year 2016 dollar top-line to grow by c. 7.5%.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
33% upgrade to January 2017 PBT
09 Jan 17
Redstone has released a trading update stating it ‘expects to report EBITDA at the upper end of market expectations’. This implies EBITDA of £1.8m which is above our current estimate of £1.5m. Accordingly, we are upgrading our PBT forecast for the year ending January 2017 by 33% to £1.2m from £0.9m. We reiterate our buy recommendation with a 2.2p price target implying 69% upside.