Senior executives at plucky British chip firm ARM have taken advantage of the rise and rise in its share price by selling options they own.
ARM, which is listed on NASDAQ, closed at $19.02 – it’s 52 week high on the 24th of the September was $19.96 while its 52 week low on the second of October 2009 was $6.44.
According to the Wall Street Journal, in August, the CFO of ARM sold 41 percent of the shares he owns while the CEO, Warren East dumped 13 percent – the manager of its processor division sold a third of his shares.
ARM is having a nice life this year. Its business model licenses technology to companies such as Apple and Samsung, who then use its core designs to have chips made for devices. It thus gets a double bubble on both licensed designs and chips actually shipped.
Earlier this year, ARM was the subject of fevered speculation that it might be acquired by Apple – a rumour that was immediately denied by executives at the company.
ARM finds itself in the unusual situation of being pitched against chip giant Intel, which is attempting to move into the smartphone and tablet market. Its market valuation has risen consistently during the year – perhaps the executives who sold their shares decided that enough was enough and it was time to take the money and run.