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%.
08 Dec 16
Elderstreet stake acquired 02 GENERAL NEWS Globalworth premium In this issue Venture capital firm Draper Esprit has taken a 30.8% stake in venture capital trust manager Elderstreet. Both investment managers focus on the technology sector and they will be able to co-invest. Elderstreet has investments in a number of AIM-quoted companies through its VCTs. The purchase was funded by an issue of Draper Esprit shares worth just over £250,000. Simon Cook, the chief executive of Draper Esprit, is a former partner at Elderstreet so he knows the business and the people who run it, although he did leave more than 14 years ago. Cook has previously acquired portfolios from 3i and Cazenove, two other firms where he has worked. Draper Esprit has an option to acquire the remaining shares in Elderstreet, which has more than £25m under management. Adding Elderstreet to the group enables Draper Esprit to offer investors a range of EIS funds, VCTs and an ISA qualifying listed evergreen patient capital fund. The enlarged group has venture capital assets under management of more than £350m. At the end of September 2016, Draper Esprit had a net asset value of 352p a share, which is similar to the current share price. The June 2016 flotation price was 300p a share. Draper Esprit is quoted on Ireland’s Enterprise Securities Market as well as AIM.
A data-driven H1 raises expectations
05 Dec 16
The first reporting period under the new D4t4 Solutions brand saw the group (previously IS Solutions) deliver good growth, leaving it well on track to meet PBT forecasts in FY 2017, and we now increase FY 2018 forecasts. The business continues to flourish from its focus on data management and analytics, enabling its international blue-chip client base to gather and gain advantage from the mass of customer data available, utilising the leading-edge Celebrus solution. Industry analysts predict 12% CAGR for the BI & Analytics market through to 2020, and D4t4 is riding this wave of demand.
09 Dec 16
Ideagen* (IDEA): Acquisition of IPI Solutions (CORP) | Lombard Risk Management* (LRM): Atos deal improves routes to German market (CORP) | Photo-Me* (PHTM): Upgrade to FY forecasts (CORP) In other news… Frontier Developments* (FDEV): ED coming to Xbox and Planet Coaster update (CORP) | LiDCO* (LID): Analyst interview (CORP) | Rude Health: Analyst interview
06 Dec 16
600 Group* (SIXH): Interim results: order book showing signs of improvement (CORP) | Real Good Food* (RGD): Commodity volatility impacts numbers (CORP) | Minds + Machines* (MMX): .vip goes live in China (CORP | Imaginatik* (IMTK): Interims (CORP) | iomart* (IOM): Quality business as usual (CORP) | Fulcrum (FCRM): Upgrades continue (BUY)
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
A Good Deal of Potential
07 Dec 16
The Millstream acquisition should generate substantial shareholder value in our view. It boosts adjusted EBIT by c.50% for just a £15.5m price tag, and the complementary customer set and product base create excellent cross selling opportunities. We raise our FY17 adjusted EPS estimate to 7.6p and introduce a FY18 estimate of 9.6p. PROACTIS is building its reputation for intelligent M&A and shrewd organic delivery; we expect to see further delivery on both fronts.