Iqe Investors - IQE

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Stock Name	Stock Symbol	Market	Stock Type	Stock ISIN	Stock Description
Iqe Plc	IQE	London	Ordinary Share	GB0009619924	ORD 1P

	Price Change	Price Change %	Stock Price	Last Trade
	2.30	4.21%	56.90	16:35:24

Open Price	Low Price	High Price	Close Price	Previous Close
56.70	54.60	57.10	56.90	54.60

more quote information »

Industry Sector
TECHNOLOGY HARDWARE & EQUIPMENT

Top Investor Posts

Date	Subject
07/5/2021 19:55	sf5: All rather dismal reading today and few are talking of topping-up - perhaps a sign of peak negativity? A few thoughts: 1. I respect savvy's decision and honesty - it can't have been easy. I don't like all the petty jibes today. 2. For my part I really, really must work on my sell discipline. I've read Lee Freeman's famous book but it's still so easy to act the rabbit. As an aside, I made a monumental cook-up in the winter - buying 10k shares when I'd meant to sell. I shoulda immediately reversed the trade but instead thought ''maybe this will work out'' as the price immediately went against me - classic error! 3. Silence re new CEO is deafening and concerning. Ditto investor engagement, lack-of. I do recall a few years ago some favoured investors had tours of the plant after AGMs - has anything replaced these? As I mentioned a couple of days ago, there are now many platforms for small caps to communicate with investors. 4. Lake of ii interest also a concern. Just Invesco at 17.5% and TRP at 10.5% but they're a hedgie perhaps with dubious motives. 5. As a positive, balance sheet is I gather relatively strong. 6. I don't understand enough about how the market works. Who generates the ideas for new products like FR? Is it people like APPL, or Tier 1's like LITE, who then approach IQE saying ''We've this wizzo idea for a new product, can you help with the novel wafer it will need?'' and IQE then produce prototype wafers for them to explore. Or do IQE sometimes take the initiative in developing new ideas? Whichever happens, there must surely be much collaboration in getting new products to market, and equally I'd expect some ideas to flop as technically not feasible (at least at a sensible cost). 6. It interests me that a few posters are saying they'll wait until June-Sept results then review their position. Yes, I get that, but isn't it also called kicking the can down the road? Surely if things aren't going to plan by that point, the share price will already be perhaps a further 20-30% lower with the prospect of another 10+% lurch down on release of uninspiring results? Not a nice position to be in; brings into sharp relief the hold-or-fold decision. I must re-read Rabbits, Hunters, Assassins! Good luck whatever people decide to do! Read Full Thread Follow Reply
06/5/2021 15:26	paraone3: In Nov 2017 Iqe raised approx £95m by placing 68m new shares in the company at £1.40 per share . This was only offered to instructional investors , and sold on the basis of the expansion of the Company by the purchase of new machines for the New Newport Factory , the machine numbers to be between 40-60. So I suppose that each new machine will cost approx £1.5m from the figures quoted in the Prospectus for the rights issue. So far only 5 new machines are installed at The Newport site and a further 3 proposed for Taiwan . Question to be asked £12m spent £83 outstanding where is the £83m , and secondly the Instutional investors should sue the management under the trade description act for their money back as the promised expansion has not taken place , no 40-60 new machines or the extra business this would have escrude had this expansion taken place as denoted in the Prospectus . This rights issue was in Nov 2017 , 3.5yrs ago , so if this had been achieved you would have a company with a turnover in excess of £1b a year Read Full Thread Follow Reply
05/5/2021 11:33	bocase: I will shortly be playing golf but tomorrow I am going to write to Amy Barlow of investor relations expressing my dissatisfaction with those relations. As owners of the business the share holders are ignored and kept totally in the dark and that includes institutional investors too. Management need to remember that they are employees of the business and not owners of it and need to start treating the owners with respect and keeping them fully informed of the progress of the company. Other shareholders might want to do likewise. Shareholder pressure might bring about some changes. If the company does not start selling itself then this destruction of shareholder value will continue as there are lots of companies out there who are making a much better job of selling the business to investors. Read Full Thread Follow Reply
04/5/2021 16:38	provonar: Montanaro, While an indication of an incoming CEO would be welcome, unfortunately I don't see that your speculation can be correct. The block admission states that it has been carried out, "...to satisfy obligations under the Company's existing Long Term Incentive Plan which was approved by shareholders in 2019". IQE awards share options as part of the remuneration package of all its employees - so this admission looks like it's just to cover the vesting of these options. But speaking of 2019, this was when the Long Term Incentive Plan came under heavy scrutiny, resulting in the following announcement: hTtps://polaris.brighterir.com/public/iqe/news/rns/story/ry8dm9w Part of the problem with the LTIP then was that it did not follow the usual institutional investor limit of 10% dilution over 10 years, which is why it had so many votes against at the 2019 AGM. So, the fact that today's admission is for approx. 1%, looks fully in-line with IQE's efforts to limit the dilution to the 10% per 10 year mark. The new CEO will, of course, become part of the LTIP and receive options proportionate to remuneration - but I'm not sure IQE would be able to offer shares upfront without either an AGM resolution or being in danger of undermining the 10% limit (which would clearly annoy some of the institutional investors - along with plenty of us private investors ...). Also, from the 2019 announcement, above, I don't think we've yet heard about the Board's completion of the actions of when they are able to commit to the 10%/10-year limit or when they have ensured that the LTIP only allows leaving employees to vest a portion of their options proportionate to the current vesting period they have worked in. Both of which are of interest to both institutional and private investors as they limit the amount of dilution. Watch this space ... Read Full Thread Follow Reply
25/4/2021 12:34	montanaro: Charlie, I got a lot more bullish as time went on during 2020, at the start of that year I was optimistically hopeful based on a few psychological tea leaves, that was before the pandemic. As 2020 went on I could see which way I thought this should go and I could see a pattern in the chart that was suddenly very much more positive, and which showed me not where the share price should go as a predictive measure, but where investors were placing their bets (I think I commented that if I had 10 companies with a chart like that, at least 7 would succeed, clearly IQE has boon one of the also rans in retrospect). So during that time, Tom Duck to his credit was somewhat more cautious and circumspect, I'm sure many of his more cautious opinions have now been justified. Hats off to him. I was placing a lot of faith in Sir Phil Smith, as Chairman since 2019, and a noted technology entrepreneur, to transform this company from the Dr Nelson show into a serious international tech component supplier into key technology growth markets. I also took heart from the consistently bullish outlooks given by our key customers. Surely, I figured, after 2 lost years in 2018 and 2019, things were going to be substantially better in 2020 and 2021. Also IQE's simple economics, the very high profit and cash conversion of each marginal sale, helped to convince me that this was an enormously attractive investment situation. Hats off to Tom Duck and to several other very knowledgeable posters who were more cautious, my increasing optimism in 2020 has proved undeserved. Right now in my opinion the shares are cheap and yet deservedly so. We are back to levels 6 months ago, and the company's credibility is probably lower than it was back then. Their credibility is the own goal of their approach to investor engagement. I think their final results announcement was a huge own goal, it was a tremendous opportunity to showcase the business yet they didn't even make a mention of really anything. I could go on. To misquote LLOL, their silence was defeating. And yet unlike posters on this board, the BoD have a serious duty to report to the shareholders and to embrace a relationship with both existing and potential shareholders. Otherwise, why be a public company if you're not open to the advantages that public company status can bring?? Savvy Investor, the most bullish commentor on this board who has made excellent arguments as to why this company should succeed in the next few years has also been let down, I feel, to a large extent in terms of the prospects the company revealed at results for the current financial year, well short of his expectations as he has stated, and well short of mine. I felt that 15-20% revenue growth on £180m was achievable as a minimum in spite of higher average dollar/sterling, which I view as predictable. Maybe we will yet see that and there will be a creeping series of upgrades to existing expectations. It's obvious that I'm disappointed for every investor on this board, myself included, who is in this for the long term. I want to be here in a decade with the shares at £15-20. I don't think that's an outrageous demand of the management to deliver that bearing in mind they have world leading technology that is vital to the future of super fast data transmission etc. Both Savvy and I have feared a low ball bid which would take the company out but deny us PI's to what should be a decade of growth and increased wealth ahead. That low ball bid now seems more likely than ever. It's quite sad that the management have let this come about when they had created an excellent platform to really take IQE into the status of "serious tech company", they're letting down their staff as well as their shareholders... We will see how 2021 works going forward but there is a serious credibility gap and as mentioned I can't help thinking, never having met Dr Nelson, that he is indeed the problem, and that his current state of control is something he truly doesn't want to relinquish, which is putting off high quality candidates. That is pure speculation but the absence of Sir Phil Smith in the last several results statements to even lead, like a normal company, with a Chairman's overview before giving way to the CEO/FD for their more detailed summaries of the business and its finances speaks volumes and concerns me. I've never met the man so it's pure speculation as to whether or not he is genuine in his desire to step aside. I am disappointed that our Chairman hasn't made his presence felt. He is the boss ultimately. So the tone of my missives now, having had to spend 2 months on my personal relocation after more than a year stranded overseas and away from home, anyone can see that the tone has changed markedly. That said I really want the company both to succeed and to show it is changing for the better, if it demonstrates a willingness for that I will definitely stay an LTH beyond end 2021. By the way, I would like to apologise to the bb for my indignant response to the recent troll like comments from LLOL (but not to him, he deserves what I have said) about other posters, goading them and misquoting them, he seems to be a regular little guttersnipe in that respect, more interested in trolling others than contributing any kind of positive knowledge or opinion. Sometimes I can't help, as can't others, responding to unfair and inaccurate asinine comments both of my own postings and in particular of others like Savvy/Sweenoid who have devoted so much time and energy to give us their views, whether with hindsight right or wrong. All views expressed here, mine included, are only to be tested by the cruel twists of fate and time. I have a large loss on the book cost of my holding and over nearly five years that suggests that I am fairly close to reviewing it and putting it into the last chance saloon. I've made that fairly clear to the board over the last 48 hours. That said I really do think that a market cap of less than £500m is a snip for this business. A contested bid will (I predict) see a takeout of at least 150-180p. Will any bidder be running a slide rule?? They should be but as we know these are not days for acting in haste. I don't hide from revealing that Dr Nelson and IQE are now officially testing my patience and that I'm not as bullish as I was. Then again, anyone who reads my posts of 2020 will know that my bullish position always had 3 simple caveats: 1) a continuing bullish trading pattern 2) a new chief executive 3) the prospect of a move sometime thereafter from AIM to a Full Listing, ie embracing IQE as an internationally credible, shareholder inclusive growth company that could be considered investible for both UK and overseas investors/institutions. Right now I'm not sure I see any of these three caveats being met and the company's refusal to engage with investors remains perplexing. Kazoom, I didn't quite get some of your stuff about straw men etc but in general you are very wise Sir. Genuinely I have no axe to grind and my opinions are just those, I don't want to seek to guide anyone, or to claim that by my past experiences I have any greater insight into the future. I don't. It's only as a private investor that I have come to realise the great advantages of access to management that I had as an investment manager, it's a very privileged job at which I like to think I was successful, albeit more by luck than judgement in all likelihood. Best wishes to all as ever, Monty. Read Full Thread Follow Reply
26/3/2021 09:32	lord loads of lolly: II-VI is a significant & growing threat now. Yesterday's financial presentation on Youtube by Admiral Nelson & Cap'n Tim said it all really. Remember those stultifyingly dry & boring overhead projector type performances we all endured at sales conferences back in the noughties? Well this was one of those. True, it highlighted significant progress over 2019 (not hard, as that was a true shocker of a year). It also dwelt on the significant market opportunities in multiple sectors. But as others have said, it never focused on how IQE would capitalise on them. Just that they were there. It was as if by repeating loud enough & often enough that IQE was market leading, the opportunities would simply fall into their lap. And delivery by both presenters lacked any real charisma or excitement. Investors can generally read. So don't just regurgitate what's on the slides. Instead, put real meat on the bones, outlining the roadmap to success. To be fair, there was a bit of this, but not nearly enough. And not done in a way to really enthuse or inspire investors (& even more importantly employees). So for now at least, on the count of three everyone, sing along to the current company song: "tomorrow, tomorrow I love ya tomorrow. You're always a day away." PS: Hope savvyinvestor hasn't had to give up his golf membership yet. The "monty, savvy & sweeny show" has gone eerily quiet since yesterday morning. Funny that. Only so long you can talk about market opportunities & blue sky charts before a company actually has to deliver on it. Read Full Thread Follow Reply
12/3/2021 10:48	lord loads of lolly: bocase & sweenoid - "Private investors have to ask why are institutional investors willing to pick up large volumes of shares at 70-73p. Of course you could also ask Why is a large institutional investor selling - there’s the rub, we have no idea and never will." Valid points, but somewhat undermined by institutions who willingly bought into a 140p placing in Nov 2017. They called it wrong then. Big time. Hopefully whoever's buying now has better luck, but it's anyone's guess. My point is you can't reliably read anything meaningful into institutional buys - or sells. Read Full Thread Follow Reply
11/3/2021 18:20	sweenoid: Never ever take any notice of how shares are notified as buys or sells Nick It’s a computer software guess and is often wrong I rarely look at trades or even the monitor these days when I did I was often amused that my buys and sells were often shown as sells and buys. Today we have a repositioning of institutional investors holdings. 47.5 million shares changed hands , the share price goes up by 4% , so it doesn’t take a genius to work out there was a lot of demand from willing buyers. Although I said it was pointless speculating, I can’t resist guessing that TRP has sold a further very big tranche to a willing buyer/ buyers. 6% of shares were traded. I wonder if TRP have had a change in their top investment team? Eitherways I don’t care, because the future as I see it is bright. Private investors have to ask this question Q- why are institutional investors willing to pick up large volumes of shares at 70-73p. Of course you could also ask Q- Why is a large institutional investor selling 😂😉 there’s the rub, we have no idea and never will PS I said last week that I expected a nice run on the share price up to results, despite the share price actually moving down I still hold by that , we shall see, I expect to be right. S Read Full Thread Follow Reply
30/12/2020 09:34	montanaro: Bocase, a quick further reply probably for the benefit of the generally interested PI's who read this and invest with professional managers: firstly Terry Smith is absolutely no gentleman but he does know how to read a set of accounts (viz his wonderful Accounting for Growth books) and he has enormous "skin in the game" to use that awful Americanism. I manage my own funds, however for those who prefer to have external managers run by excellent people, from my experience and the people I've worked with and got to know, I have incredibly high respect for the achievements of James Baker at Chelverton for growth/smallcap, also he is one of the finer gentlemen I've met, of whom there are many despite inevitably the likes of the nastier elements such as Smith and Montanaro who have emerged from the sewers by comparison, and also I'd highly recommend Sebastian Lyon who has done the most stupendous job for investors at Troy Asset Management at protecting investor capital, again a total gentleman of utter integrity and fantastic longer term focus, the two Troy funds I'd recommend there would be Sebastian's own Trojan Fund and their excellent Spectrum fund of international funds, I think their website taml.co.uk has all the info. He also runs the quoted Personal Assets Inv Trust. Others I'd mention in passing would be Jonathan Ruffer, who always impressed me with his fantastic intellect and who is in the same breath and style ie capital preservation as Sebastian, Gervais Williams (enormously sound) and Katie Potts' Herald IT for a broad based tech only exposure, all of those three are greatly impressive and trustworthy people. In my time I was an award winning manager rated AA by S&P Fund Research, more by luck than judgement and a long time ago now, among others I worked with Nigel Thomas who was among the very best investors I came across, a gentleman and a big "star name" which is a horrible pressure in itself (which happily I was not!), but I think Nigel has retired now, I no longer really keep up to date with the comings and goings of the star men, but James Baker and Sebastian Lyon will never lead their investors into any kind of Woodford style debacle (not that I ever recall meeting Woodford)! Hope that helps. As ever, Monty. Read Full Thread Follow Reply
29/12/2020 15:57	montanaro: Three replies: Terry Topper I used to be very familiar with the IHT relief terms but not so much in recent years and it may be one of the considerations in play that has prevented Dr Drew from prioritising a move to the Full List. It was always my understanding, and this may be incorrect, that an AIM listing wasn't the only pre-requisite, that subsidiaries had to perform a qualifying activity (we do) and that more than 50% of the business has to be UK based (we aren't). My opinion only but the Board need to consider the best medium term interests of the shareholders, whatever their reasons to own shares, and of the company, and no doubt both the broad gamut of the shareholder base would benefit from a move to the Full List even if it would impact some in terms of losing various tax breaks, and as for the company, it would certainly benefit from the transition, in terms of its credibility with international investors, its access to capital markets and its position within the UK market's structure ie a member of the FTSE Mid 250 in all likelihood and a leading constituent of the FTSE Tech Index. There are many reasons for the Board with new CEO to turn this particular leaf and now we are threatening a long term run of profits and profit growth, it seems no time is like the present. Knackers, I like your optimism and realistic conservatism and like Savvy I am only one of a couple of aggressively bullish people here, scarred as most of us are with the last few years of disappointments we have often become too blinkered to recognise the positives of the journey traveled to date, and after the existential period of 2018-2019 which led to our headlong plummet to 20p in March, it's small wonder we have a cautious majority amongst our midst. My own bullishness a year on is compared to my hopeful straw clinging for my commentary on the outlook at the start of the 2020 year, looking as I was at certain psychological turning points that had happened amidst the wreckage of 2019 and clinging to the belief that nothing could be worse than 2019 going forward, it's quite a sea change a year later. Covid of course has been the spur to take economic activity into the next era of technological innovation, and that's where IQE will be a huge beneficiary. I don't often like to pin my colours to the mast predicting share prices, but on this occasion as stated I confidently believe we will see a new all time high in 2021, that means going through 180p and probably hitting £2/share. We have several chart barriers to get through for sure, we're just trying to overcome the 72-73p barrier to which I recently alluded to as a key short term obstacle. I'm sure getting past 100p will also be a fight if and when, as will 140p. In 2016/17 it took 15 months to go from the 20's to 180p, now that was a pretty extreme exponential climb which for various good reasons discussed ad infinitum proved unsustainable. A single high growth application in a single mass market consumer product wasn't a great basis ongoing, with hindsight. But it did lay the foundations for where we have got to as we are about to start 2021. None of us appreciated the length of the investment cycle that needed to be undertaken and accomplished and on which the £95m raised plus more has been spent. BUT that said at the time the institutions had GOOD REASON to take the placing, zero discount which is highly unusual and is a reflection of the OVERWHELMING DEMAND FOR STOCK at the time, a demand we could very soon replicate IMHO all for the right reasons and perhaps many similar ones. Cycles turn and often faster than we anticipate, both to the upside and the down. There is no room for disappointment ongoing for IQE if it's to meet my prediction. I should add nothing I write here is either anything other than my personal opinion, I'm not trying to actively "ramp", pump, encourage, entice others... fine, I got my sister to buy a few thousand more shares last week as I believe it's a no brainer right now. I get no benefit if the shares go nowhere or rise to my target for 2021 as I expect to be a shareholder regardless far beyond 2021, with a target far higher quite frankly than 200p for my eventual exit. But I don't use this bulletin board to induce other people to follow my opinions, this bulletin board is an interesting confluence of expertise and opinions that benefits all of us. I would urge everyone to take whatever they want from my bleatings, but to simply take them as my honest opinion of my current state of the IQE union. If you agree or disagree, that's great. Only time will allow us all to learn what will have been the outcome. Time left egg on the face of any number of us in 2018 and led to an horrific bear market that allowed me to buy shares last March at the same level I'd bought when I first invested in IQE in 2016. Heaven help I'm ever given that opportunity again. Which leads on to my third answer, my reply to Lordlol... Well my Lord, here is where I think you're looking at the current valuation, the current p/e, the current relatively muted advance, partly muted by the company's own caution, right or wrong, in September which I note even they have had to upgrade. I think when you start predicting, as I have, a near tripling of the share price within 12 months, you have to have really good reasons, and those reasons must all come right. Those reasons have to lie at all ends of the spectrum, from the psychological end to the accounting end and with every issue in between. What I'm predicting, ie a move from 72p last night to 200p, is a de facto explosion in the share price, that's a pretty big IF in normal circumstances. It's predicated on 3 or 4 key dynamics: 1) the market doesn't understand the earnings capacity of this business, it doesn't understand the incredibly high marginal profitability of the marginal sales as they grow over and above the core fixed costs, so the potential economics of IQE certainly can justify a premium rating as I've been arguing for a while now, and forgetting profits if we just talk cash generation, every reason to believe as sales grow there will be a very high cash conversion of profits going forwards... so of course there are some quite strong drags on earnings that will kick in to increase costs, for example annual rental payments for Newport, increasing tax charges as prior year tax losses are utilised, etc but these shouldn't be more than a modest restraint to earnings going forward. Clearly they need to get the business right, but there's strong evidence they are executing and strong evidence from our customers that the growth will continue with the roll out of 5G and the adoption of 5G mobiles by the consumer over the next two years with industry forecasts of a doubling to 500m 5G enabled units sold in 2021 and 1 billion in 2022, before we even start thinking about non mobile earnings streams for IQE. This is a golden scenario for earnings to grow well beyond the single application single consumer product scenario we were looking at in 2017-18. 2) if you compare the situation now to the situation a year ago, the psychology is completely reversed. At the start of the year I was hoping we'd seen a turn based on a couple of key factors, namely Dr Drew's deal with EFT that seemed to me to be a terrific buy signal as Dr Drew was de facto announcing a line in the sand at which his stake was very undervalued in his opinion; also the changing constitution of the BoD was giving me real cause for optimism and at the time it was clear that Tim Pullen was starting to really take a conservative approach to the company's accounting policies, something we've seen ongoing in the last two reports, indeed I would argue that he has been far too conservative witnessed by the recent write off of the IP portfolio/CREO against the latest technology announcement wherein CREO is clearly a potential major revenue earner... but look a year back and our collective psychology had been shaken by the two profit warnings the company issued in from memory June and October 2019, the bear market in the share price was ongoing and Donald Trump was full on in his trade war, with our sector, judging by Lumentum's and Skyworks' wrecked 2019 p&l's, right in the firing line albeit our supposed exposure to Huawei per se was less than 5%. So really it was a question of digging out the psychological positives from the embers of destruction. Roll on 12 months and things are shaping up very differently. Almost all of our communications in 2020 have been overwhelmingly positive, with only the disaster £75m second half minimum sales forecast coming to mind as anything the bears could cling to, since upped to £80m and imho almost certainly likely low field. I think the psychology of our news flow is likely to get better and better going forwards and that will have investors, and I don't believe they are at the moment, focused on the gem that's emerging in their midst. There's every chance IQE is set to become a major UK tech business and even more chance of that with Sir Phil Smith and a suitable new CEO directing matters. That platform wasn't in place in 2017-18, I very much hope with the new CEO we will have a person of such capability to take us there. He's certainly being handed a fabulous platform from which to really launch the company into the 2020's, a decade for which this company has been waiting since the 1990'S I'd argue, ie the decade in which silicon chips become increasingly redundant at the cutting edge of technological development 3) LLOL you have a fundamental flaw in your argument by quoting P/E as the yardstick on which you would value IQE. This is not Vodafone or Marks & Spencer. This is a near unique, absolutely vital component manufacturer operating in a market that looks like it could grow at very high compound percentages throughout the 2020's. So the P/E to Growth ratio might start to really justify the shares as hugely cheap, as I believe them to be, let alone all of the other metrics being employed by sophisticated technology investors. Why else would they all suddenly be massive bulls of companies like Uber etc that have no earnings and are probably going to burn cash for quite some time?? And even if I agreed with you that the current P/E was high enough, you're not looking forward as the market will to 2021, when the market will be looking at 2022 and 2023 profits and should like what it sees. That's one of the fundamentals on which I think 2021 will see the shares go through the previous 180p high. My recommendation would be you read a couple of books on the strategies of the most successful growth managers, there won't be much mention about P/Es... As I previously recounted, when I sold Microsoft at $92 in 1999 it was on 84x sales. When it peaked at $110 in 2000 it would have been on 100 times sales. Right now IQE sells on a bit over 3x sales. 4) add to all this a change of listing which will bring lots of passive buying, bring lots of exposure to international buyers and far more credibility for them than is currently projected for our AIM listing, it's a no brainer to change to a Full Listing imho... 5) and then there's momentum; as mentioned in a recent post we all like to use charts to predict where a share could go, but in reality it's a snapshot in time that gives us a vital take on where investors are currently placing bets. Three things are obvious: a) the 2018-2020 bear market is over and on the balance of risk/probability the shares are more likely to enter a new bull market phase than to return to a further ghastly bear market down leg albeit such an event is a perennial risk in any such investment b) the shorts this time last year were holding 9-10% of our equity and it's now been reduced to 2-3% so it's very clear which way they have an opinion going forward c) we've not even started to attract the momentum investors, a massive pool of capital that chases the tail of successful companies - whether you like it or not there are many strategies on which various pools of capital align and target investments and the four best known are income, value, growth and momentum; you just need to look at the extreme example of Tesla to know the force with which a tidal wave of momentum investment can create not just a spike into an exponential share price but also an ongoing ever larger momentum, in some cases such as ours it becomes a bubble of course, but actually with IQE's ongoing shorter (2-3 year) and medium (3-5 year) outlook it's really an increasingly attractive proposition not that we will get to 180p as we did last time and then freeze because there was no follow through, but that we'll get to 200p and then be well set to go onwards towards 400p, 700p etc over the foreseeable future as it will be at that time. Well, I guess with Savvy Investor I'm about the most bullish commentator on this board, but that's my experience of such situations and it's very rare that you look at a company with as many boxes I'd like to be able to tick in an ideal scenario, only to find that I can actually tick a substantial number of them. I'd like to see some further evidence of insider buying; I'd obviously like to see a continued ongoing momentum of positive news flow into 2021 ie as of the year starting next week. I think we'll see that for sure, albeit maybe the September prediction that could be "non linear" could yet make us uncomfortable every so often as we were for a few weeks in September - personally I was very disappointed at the time but it gave everyone a great chance to climb aboard even if in reality it mainly seems to have given the short interests a chance to close out their positions. All the above, once again, absolutely IMHO, absolutely only to be taken with whatever pinch of salt anyone who has got down this far should read it with. I am a LTH, I'm not interested in manufacturing a short term rise in the price, I have no other interest than a block of several hundred thousand shares and no interest in selling those. Except in extremis I expect to be a LTH in this company for several years to come. Anyone reading this should DYOR, read the likes of Sweenoid and others for their technical understanding which I don't profess to have whatsoever, read several excellent posters here who follow our customers and their views on our end markets, and take what I say at the face value of what I express, which is the rather lop-sided view of an ex growth/small cap investment manager who has both enjoyed and suffered in equal measure over our travails between August 2016 when I first invested at 27p, March 2020 when I next invested at 27p (and a fair few times in between!!) and now. I really hope we all have a great year ahead. As mentioned, if we do, we won't probably be looking far to see where the following year's growth and beyond will be coming from. With best wishes to all for a safe, healthy and prosperous New Year, as ever, Monty. Read Full Thread Follow Reply

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