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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Alphawave Ip Group Plc | AWE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.60 | -1.28% | 123.40 | 16:35:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 124.60 | 122.80 | 126.20 | 123.40 | 125.00 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
|---|
Posted at 29/4/2024 08:02 by valhamos So you agree with my querying whether the FactSet 2026 eps quoted above (giving a claimed P/E of 11) was correct because I suspect it has been 'adjusted' for all sorts of things?A cash measure is important ( but adjusted EBITDA is not it when it excludes $29m cash paid in interest and tax in the recent accounts) especially if they are going to run out. But my main concern is not cash but profit - bottom line profit. Following recent events AWE are going to have work pretty hard to convince investors there is anything in it for them. If they can demonstrate or forecast good profitability ( not adjusted EBITDA!) then extra finance if needed shouldn't be an issue. But at the moment we seem to be a few years away from any profits. |
Posted at 28/4/2024 10:24 by xtrmntr Alphawave IP (AWE) designs chips that allow high-speed data transfer. It has a similar business model to ARM (US:ARM), in that it licenses these designs to other companies rather than doing the manufacturing itself.The case for high-speed data transfer is growing as excitement builds around artificial intelligence (AI). This has helped drive demand for Alphawave's designs. Last year, new bookings rose 68 per cent to $384mn (£310mn). Of these bookings, over 80 per cent are in advanced nodes which means "7nm and below", essentially one of the latest process nodes in chip production. In other words, it is operating at the cutting edge of the AI industry, which as TSMC's (TW:2330) recent results show, is the fastest-growing part of the semiconductor industry.However, Alphawave's growth has slowed in the first quarter of this year, with new bookings up by just 20 per cent year on year. Licensing fees still rose 75 per cent in Q1, but royalties were down 75 per cent as Alphawave "actively de-prioritised the legacy lower-margin silicon business from Chinese customers".Increased R&D spending, marketing costs and a big jump in share-based compensation meant there was an operating loss of $52.9mn in 2023, a big swing from an operating profit of $2.5mn in 2022. However, when the $40.7mn of compensation is stripped out, plus a couple other metrics, adjusted cash profit (Ebitda) was up 34 per cent.Management is expecting to start benefiting from the capital-light business model in the next few years. It is guiding for $450mn of revenue in 2025, and is expecting to make around $100mn of adjusted cash profit, which would be an increase of around 60 per cent from this year.FactSet broker consensus is for earnings per share (EPS) to rise to 12¢ by 2026, giving a 2026 price/earnings (PE) ratio of 11. Previous rapid growth had encouraged Jefferies brokers to describe Alphawave as "Europe's best AI play". That was prior to the company making a significant downgrade to earnings expectations last week ahead of these results, but there is still reason to be optimistic about its long-term prospects. Buy. |
Posted at 16/4/2024 09:09 by valhamos CFO only started in October. A lot of the issue seems to be a different revenue recognition profile across the years than was expected. AWE are specifically saying this is not a result of the audit, but this should have been spotted earlier and a reflection of the task the new CFO is facing. |
Posted at 08/4/2024 19:19 by valhamos I thought this AWE presentation on Advanced Custom Silicon for AI and Data Centers by Mohit Gupta was interesting.I think this is fairly new though I had seen the slides themselves a week ago - Mohit Gupta also did this presentation at MemCon 24 - see this TechArena interview But the Q&A was particularly informative, he sounds quite confident on how AWE is expanding in custom silicon with 70-75% demand related to AI. |
Posted at 21/3/2024 10:21 by dividevil In a way AWE already benefit from this chips act through their partners. It was something I queried with investor relations. |
Posted at 13/3/2024 17:13 by dividevil The share price drop this afternoon seem to coincide with the US opening. Most US "AI" stocks are down today. It seems to suggest that AWE now has a bit more attention over there than a few months back. |
Posted at 13/3/2024 10:17 by dividevil Looking at the numbers only can potentially be misguiding. I’m under the impression that UK analysts are not so very well clued up on how silicon IP / fabless semiconductor outfits operate their business. US based analysts seem far more comfortable with it.Some analysts struggle to understand how to value the company on its intangible assets and goodwill because valuing the IP and technology is something they can’t get their heads around. Same with the amortisation and depreciation. Marvell valued nearly 39x greater than AWE operate on a P/S of 11.4. If AWE had the same P/S the share price would be £4.30. Marvell have $1.4 billion debt and are loss making due to R&D spend. US analysts also have no problem valuing Credo at twice the market cap of AWE with only nearly half the revenue generated and are loss making again due to the R&D spend. Last year’s results and interims were particularly challenging because of what the recent acquisitions brought to the company. Plus opening of new offices, injection back into R&D, and project costs for the opto-electronics products. |
Posted at 08/3/2024 07:28 by takeiteasy PALO ALTO, Calif., March 7, 2024 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2024, ended February 4, 2024, provided guidance for its fiscal year 2024 and announced its quarterly dividend."We are pleased to have two strong drivers of revenue growth for Broadcom in the first quarter and fiscal year 2024. First, our acquisition of VMware is accelerating revenue growth in our infrastructure software segment, as customers deploy VMware Cloud Foundation. Second, strong demand for our networking products in AI data centers, as well as custom AI accelerators from hyperscalers, are driving growth in our semiconductor segment," said Hock Tan, President and CEO of Broadcom Inc. "We reiterate our fiscal year 2024 guidance for consolidated revenue of $50 billion and adjusted EBITDA of $30 billion." So network market still seems to be in AI/growth mode centred around supporting the Nvidia type installations. dyor and no advice etc |
Posted at 27/2/2024 16:44 by zam1 Awe was 4-50 back in 2021 so has long way to go Nvidia will be hard to match but I can see plenty if future growth for awe from here. |
Posted at 26/2/2024 23:10 by jonnywalker77 In 2021 ChatGPT was only a twinkle in Altman's eye and there was no AI boom, and AWE was just playing into the general move to datacentre compute (I.e. cloud). Fast forward to today and AI has put a rocket up that given the compute required jumps by more than an order of magnitude. Nvidia has 6x'd since this time in 2021, having already 3x'd since the same time in 2019. Even if AWE only gets a fraction of that action you are looking at a multibaggerbfrkm here |
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