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ARM Holdings, plc (ARMH)

  • Jun. 26, 2013, 9:41 AM
    Tech ratings change roundup: 1) Mellanox (MLNX +2.7%) has been upgraded to Buy by Stifel. 2) NetGear (NTGR -4.6%) has been downgraded to Sell by Goldman. 3) ARM (ARMH +1.1%) has been upgraded to Buy by Benchmark, and to Overweight by Piper. 4) Rackspace (RAX +5%) has been upgraded to Outperform by Wells Fargo. 5) Splunk (SPLK +1.9%) has been started at Outperform by Wedbush. 6) Allot (ALLT +3.7%) has been upgraded to Outperform by Wedbush, and to Buy by Wunderlich. 7) Rubicon (RBCN -3.3%) has been downgraded to Neutral by JPMorgan. 8) Orbitz (OWW +4.1%) has been started at Buy by Ascendiant Capital. 9) Lam Research (LRCX -1.4%) has been upgraded to Buy by BofA/Merrill. 10) Adobe (ADBE +2.4%) has been upgraded to Buy by Jefferies.
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  • Jun. 25, 2013, 11:03 AM
    Investec upgrades ARM (ARMH +1.9%) to Buy, sending shares back above $36. The firm thinks ARM's current share price implies major near-term share loss, something deemed unlikely. Shares are down 28% from a May 16 all-time high of $50.56, but still carry steep multiples. Numis downgraded ARM to Reduce last week.
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  • Jun. 19, 2013, 11:20 AM
    The Street reacts favorably to Nvidia's (NVDA +7.3%) decision to license its GPU cores and related IP to other mobile processor developers, rather than simply pin its mobile hopes on Tegra sales. "If there was ever a way for Nvidia to get into Apple, the IP licensing angle is likely it," says Raymond James, which thinks the move could also limit traction for ARM's (ARMH -0.8%) Mali GPU cores. Evercore is less optimistic about Apple, stating checks point to "significant internal GPU design efforts" at the company. It views Samsung as a possibility, but adds the Korean electronics giant is "cycling through IP vendors and chip suppliers."
  • Jun. 18, 2013, 5:27 PM
    In a strategy shift, Nvidia (NVDA) is offering to license its Kepler GPU architecture, as well as "visual computing" IP, to other chipmakers looking to power mobile hardware. Kepler serves as the foundation for much of Nvidia's PC/workstation GPU lineup, as well the GPU within its next-gen Tegra 5 (Logan) processor. Nvidia's move puts it into competition with GPU core licensing leader Imagination (IGNMF.PK), and also ARM's (ARMH) fast-growing Mali GPU core business. Potential licensees include Qualcomm (uses home-grown GPUs), Intel (ditto), Apple (Imagination client), and Samsung (Imagination and Mali client). Tough competition for Tegra may have influenced Nvidia's decision.
  • Jun. 18, 2013, 11:35 AM
    AMD's first ARM-based server CPU, codenamed Seattle, will enter production in 2H14, the chipmaker announces. Seattle CPUs will feature 8 or 16 of ARM's (ARMH) high-end Cortex-A57 cores, with each running at 2GHz. or more. AMD claims the chips will "offer 3-4x the performance" of its new Opteron X-Series parts, and will integrate 10G Ethernet links and SeaMicro's Freedom Fabric tech. Seattle, aimed at the budding microserver market, will face competition from fellow ARM licensees AppliedMicro (AMCC +6.5% - appears to be rallying on the news), Marvell (MRVL), and startup Calxeda, and also Intel's Atom CPUs. Look for H-P to consider Seattle for its Moonshot server line.
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  • Jun. 17, 2013, 9:45 AM
    British i-bank Numis cuts ARM (ARMH -4.1%) to Reduce, leading shares to slump out of the gate. ARM is now down 23% from its mid-May high of $50.56; a steep valuation (shares still go for 32x 2014E EPS) is a likely factor. Topeka recently started coverage at Neutral.
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  • Jun. 7, 2013, 9:33 AM
    Topeka launches coverage on the chip sector. NXP (NXPI -1.5%), Broadcom (BRCM +1.3%), Amkor (AMKR +0.5%), Freescale (FSL -0.5%), and Rambus (RMBS +0.5%) have been started at Buy, and ARM (ARMH -2.1%), Qualcomm (QCOM -2%), Applied Micro (AMCC +0.3%), and Mellanox (MLNX +1.9%) have been started at Hold. Mellanox isn't exactly a chip stock, though the company does use internally-developed ASICs in its adapter cards and switches. Qualcomm may be pressured this morning by reports of Samsung Galaxy S4 order and forecast cuts (I, II)
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  • Jun. 3, 2013, 6:56 PM
    ARM's (ARMH) new Cortex-A12 CPU core and Mali-T622 GPU core have mid-range smartphones in mind. Positioned between the low-end Cortex-A7 and Mali-400, and the top-of-the-line Cortex-A15 and Mali-T628, the A12 and T622 are meant to enable high-performance devices with $200-$350 unsubsidized price tags. The A12, said to deliver a 40% performance boost over the prior-gen A9, also supports ARM's power-saving big.LITTLE architecture. Surging Mali shipments and Cortex's higher royalty rates have been lifting ARM's total royalty rate. The next-gen Cortex-A50 line is due in 2014.
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  • May. 29, 2013, 12:12 PM
    AMD tries to counter the 2012 launch of Intel's (INTC) S1200 (Centerton) Atom low-power server CPU line by launching its Opteron X-Series (codenamed Kyoto) CPUs. Like the S1200 line, the X-Series is aimed at the small but fast-growing microserver market - AMD's first two chips respectively consume 9W and 11W. AMD boasts its CPUs sport 4 cores to Intel's 2, and are also differentiated by superior throughput and their inclusion of GPU cores. However, Intel's upcoming Avoton CPUs will deliver big performance gains over Centerton. There's also plenty of competition from ARM (ARMH) server CPUs - AMD is hatching plans for its own ARM chips. The company's SeaMicro microserver unit supports a variety of CPU platforms.
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  • May. 13, 2013, 11:07 AM
    More Chinese companies are popping up in Detroit as they prepare for the eventuality of a major Chinese auto manufacturer selling cars in the U.S. For the most part, the firms are flying under the radar, but the numbers are starting to swell. The Detroit Chinese Business Association now has over 100 Chinese-owned businesses in its membership with the largest percentage geared toward supplying the automobile industry. It's a trend to watch for auto suppliers (AXL, ARMH, ALV, BWA, CLC, DAN, FDML, GNTX, JCI, MGA, TEN, TRW, WBC) used to having a home field advantage with the Big Three automakers.
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  • May. 2, 2013, 5:34 PM
    ARM (ARMH +0.1%) largely missed out on today's rally after GPU core rival Imagination (IGNMF.PK) fell 25.7% in London thanks to a warning. Imagination expects its FY13 (ended in April) licensing revenue to fall 22% Y/Y to £27M due to delayed deal closings, something it blames on "structural and organisational changes" at licensees. FY14 licensing revenue (exc. MIPS) is expected to total £30m- £35m, also below expectations. The damage to ARM was likely limited due to the fact ARM's share gains might be partly responsible for the warning - ARM's Mali GPU core shipments rose 5x Y/Y in Q1, and 3 new licenses were signed (raising the total to 75). (also)
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  • May. 1, 2013, 1:25 PM
    ARM's (ARMH +2%) chip royalty rate will rise to 1.5% next year from 1.3% last year, and could approach 2% by 2020, says Canaccord's Matthew Ramsay in an upbeat note that's helping the CPU core giant make new all-time highs. Higher Cortex CPU core and Mali GPU core shipments are lifting ARM's chip royalties, as is the adoption of quad and (in Samsung's case) octa-core mobile processors. Ramsay adds ARM, which saw chip shipments rise 35% Y/Y in Q1, could have a 50% CPU share by 2020, up from a current 32% - if that happens, microcontrollers and other embedded chips will play a big role. Shares trade at a lofty 53x 2013E EPS.
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  • Apr. 23, 2013, 9:10 AM
    Premarket gainers: MEMS +50%. SCON +46%. NFLX +24%. VECO +14%. COH +12%. ILMN +10%. ARMH +9%. CZR +8%. STM +6%. AMRN +6%.
    Losers: IRWD -10%. RSH -7%. IOC -6%.
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  • Apr. 23, 2013, 6:06 AM
    More on ARM Holdings (ARMH) Q1: adjusted pretax profit +44% to £89.4M vs consensus of £77.6M. 2.6B ARM-based chips shipped, +35%; mobile chips +25%, embedded +50%, Mali graphics processors surge fivefold. ARM "made an encouraging start to 2013" and it projects FY revenues in line with market expectations, which are £675.8M. Shares +5.9% premarket. (PR)
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  • Apr. 23, 2013, 3:20 AM
    ARM Holdings (ARMH): Q1 EPS of $0.17. Revenue of $263.9M (+26% Y/Y) beats by $13.19M. (PR)
  • Apr. 23, 2013, 12:05 AM
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Company Description
ARM Holdings PLC designs microprocessors, physical IP and related technology and software, and sells development tools to enhance the performance and energy-efficiency of high-volume embedded applications.