Are people railing against ARM Holdings because they don't make chips, just design them?

East was appointed Chief Executive Officer of ARM Holdings in October 2001.

Shares of ARM Holdings rose 16 percent after the semiconductor maker said its second-quarter profit rose 23 percent.

But Citigroup had the opposite effect on ARM Holdings.

ARM Holdings, a technology company best known for its processors.

ARM Holdings this week announced its results for the first quarter ended March 31, 2011, and the numbers have never been better.

The company is hoping the new chip will be light enough in power demands to compete with rival smartphones using ARM Holdings' more energy-efficient architecture.

This situation led shareholders to press Acorn to sell its stake in ARM Holdings to provide a return on their investment.

In May 2013 it was announced they were working with ARM Holdings on a hardware platform for m2m applications.

It is also expected to use a processor based on a design by the Cambridge-based ARM Holdings.