Mike Inglis, the Executive Vice President and General Manager of the Processor Division of ARM, the FTSE 100 chip designer, has sold more than half his stake in the firm.
Inglis, who took up his role in July 2008, sold 291,651 at 562.25p each for a total of £1,639,808, taking his total number of shares to 200,000.
The sale comes less than a month after the group's strong growth in licensing revenues helped it beat forecasts in the fourth quarter and for the full-year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Fourth quarter sales totalled £137.8m, up from £113.9m the year before and well ahead of the £127m expected by Bloomberg consensus, as the group sold 2.2bn of its ARM technology-based chips, the highest-ever number of ARM-processor based shipments.
Full-year revenues rose 21% from £406.6m to £491.8m in the 12 months ended December 31st, compared to Nomura's forecast of £475m. Meanwhile, pre-tax profits jumped 37% from £167.4m to £229.7m, under Nomura's £215m estimate. Earnings per share rose from 9.34p to 12.45p.
ARM shares have lost over 5.5% of their value over the past year and almost 4% over the past month, currently at the 574.00p mark.
Top Director Buys
Assura Group Ltd. (AGR)
Director name: Mr Simon T Laffin
Amount purchased: 618,793 @ 32.00p
Value: £198,014
Real Estate Credit Investments PCC Ltd (RECI)
Director name: Lord Tom Chandos
Amount purchased: 220,000 @ 84.75p
Value: £186,450
Impax Asian Environmental Markets (IAEM)
Director name: Mr Alan Barber
Amount purchased: 96,000 @ 87.30p
Value: £83,808
Sound Oil (SOU)
Director name: Mr John Antony Heath
Amount purchased: 1,300,000 @ 1.40p
Value: £18,200
Top Director Sells
ARM Holdings (ARM)
Director name: Mr Mike Inglis
Amount sold: 291,651 @ 562.25p
Value: £1,639,808
Impax Asian Environmental Markets (IAEM)
Director name: Mr Alan Barber
Amount sold: 95,786 @ 87.25p
Value: £83,573
Rathbone Brothers (RAT)
Director name: Mr Richard I Smeeton
Amount sold: 6,500 @ 1,260.00p
Value: £81,900
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
