ARM Holdings, once a UK listed company, that back in the day was spun out of Acorn Computer.

More recently ARM was listed in the US by its parent Softbank.

ARM makes its living by designing silicon chips, often for fabless customers and when those designs are manufactured, by the likes of TSMC or Intel, who run Fabs or Foundries, ARM earns royalties and a licensing fee on each chip manufactured.

The stock has underperformed versus its semiconductor sector peers, see the first two charts below.

However it has been upgraded today and has traded higher by +8.0% so could that be about to change ?