Iqe Share Discussion Threads

[kat1e price] 16/11/2018 12:59

toowenty pee

[poombear] 16/11/2018 12:58

If you read the interims IQE reveal that Macom are their lead customer.

Current infrastructure applications such as base stations, radar and CATV are a small but rapidly growing part of IQE’s wireless segment.  This is becoming an increasingly important part of IQE’s business as the superior performance of this CS technology continues to replace the incumbent silicon LDMOS technology.  Indeed, in partnership with our lead customer, IQE has developed a high performance low cost solution (GaN on Silicon) to accelerate the displacement of LDMOS.  Our lead customer is in the process of qualifying this technology downstream and concluded a high volume chip fabrication partnership in late 2017, in anticipation of a production ramp on completion of these qualifications.

[blueflame] 16/11/2018 12:22

The question that John Croteau answered about 5G where he said ' It's actually quite shocking when you see the unit volumes and the Wafer consumption requirements' is music to the ears of IQE surely.

[adejuk] 16/11/2018 11:52

i wish i understood what game is afoot here. t/o is my hypothesis bwtfdik?

[poombear] 16/11/2018 11:51

Looks like decent revenue next year 2019 and then really taking off 2020/21/22/23

[grity] 16/11/2018 11:31

Poombear , I remember the ceo of Macom telling us “we’re off to the Races” it’s still on reading that article.

[bulltradept] 16/11/2018 10:59

"I'm standing firm in the hope that APHRODITES's 'Hedge Fund' contact is right in thinking that a takeover is even more likely now due to the recent 44% price drop. GLA!"

Hope and believing something on a public bulletin board is not a strategy!

But you knew this already didn't you!

[poombear] 16/11/2018 10:16

And for those that can't see the woods for the trees, read this from back in Feb. Need to translate from German...




John Croteau, CEO of Macom, said: "Together with ST and Epi wafer specialist IQE, we are building the one size-fits-all supply chain needed to bring GaN-on-Si transistors into the price range they deserve to replace the LDMOS transistors, to meet the requirements of the new 5G systems and to conquer new markets around the RF energy technology. «

Less expensive than LDMOS transistors: With their license agreement, ST and Macom want to revolutionize the RF market, both in base stations and in the newly emerging RF energy technology.

"Those who want to deliver ICs for use in base stations must not rely on small fabs, but have to have large manufacturing resources that allow them to ramp up production quickly when needed and to survive unscathed in times of demand Decreases , "said John Croteau, President and CEO of Macom , in an interview with Markt
& Technik announcing the agreement with STMicroelectronics, Now he is convinced that the manufacturing capacity for Macom should no longer be a problem and its own GaN-on-Si technology opens the door to applications in mainstream markets. Because ST will now produce the GaN products in large numbers, initially based on 6-inch wafers, the transition to 8-inch wafers is also no problem.

This will significantly lower the price of GaN transistors compared to today: "We will be able to offer GaN transistors at a lower price than system manufacturers have to spend on today's LDMOS transistors," says John Croteau. And that on the basis of 6-inch wafers. If 8-inch wafers are used, the costs compared to GaN-based GaN transistors on SiC will fall by a factor of 5 to 8 over Macom's GAN-on-Silicon technology.

Because Macom secured access to the 4-, 6-, and 8-inch Epi wafers that have their own GaN on an agreement with IQE, the world's largest producer of epi wafers, with 50 percent market share. Si process, is now the entire supply chain installed, which is the prerequisite for the fact that the GaN transistors will move in future in large numbers in the base stations. "The agreement with Macom will allow us to further develop this new market and incorporate our decades of mass production experience into the GaN supply chain," said Drew Nelson, President and CEO of IQE.

According to Croteau, Macom has been working closely with ST over the past two years to transfer the process to ST manufacturing. And it was not easy to convince the manufacturers of base stations because they only use sophisticated technologies that have gone through extensive qualification processes. But ST and Macom have shown that the new technology works reliably in the field and is more efficient and cheaper. "GaN will replace the LDMOS types," Croteau is convinced. All technical requirements are now fulfilled. The fact that a large manufacturer like ST is now part of the supply chain particularly appeals to system manufacturers: "All other manufacturers of GaN transistors - irrespective of which technology they use - can not compete with production volumes at the moment."

License dispute with Infineon clarified

This also means that the legal dispute with Infineon, has now been decided in favor of Macom. The background: Macom had gained access to the GaN technology with the acquisition of Nitronix and Nitronix had developed together with International Rectifier. After the acquisition of IR by Infineon, the Munich saw their acquired rights violated. "After the US court recently ruled in our favor, the licensing deal with ST was in the way of legal action," said Croteau.

5G promises billions in sales

That now the way to the GaN-era is open, comes just at the right time. Because the transition to 5G technology forces system manufacturers to look for new technologies that can meet the demanding requirements. Especially since Macom can supply not only the GaN transistors, but complete subsystems: "We have set up proven system experts who can offer users complete designs."

The market potential estimates Croteau as huge. In China alone there are 3.6 million 4G base stations. By 2022, 15 million 5G base stations would be built, into which 15 times more transistors than today will migrate, especially GaN types. "That would be more than 1 billion a year, a multi-billion dollar market in China alone!" Says Croteau.

[poombear] 16/11/2018 10:07

And just for some perspective on the below section, there was no GAN on Si content in the 4G LTE Cycle.

"Forecast from our top base station customers show a strong surge in RF power semiconductor content, both in dollars and especially in wafer consumption through 2023 for 5G. We're talking 3 times greater demand in 5G than the previous 4G LTE cycle. We therefore believe that the billion-dollar RF power market is poised to triple over the next few years on the back of GAN in 5G base stations."

[poombear] 16/11/2018 10:00

I don't want to get all Sweenoid on you all, but amazed there has been no discussions on the revelations from Macom yesterday regarding GAN on Silicon for 5G base stations. It's started and is going to grow and grow, IQE is at the centre of this, their tech will allow GAN on Si fabrication to move into formally silicon only fabs.

Read the full transcript, lots of detail on the call. Below is an extract.



Starting with 5G telecom. I can finally speak more openly about the magnitude of the opportunity now that we settled our long-running litigation with Infineon. Let me explain why ST is so invested in teaming with us and why Infineon was so invested in litigating with us over rights at RF.

Gallium nitride is acceptably a requirement for 5G base stations due to its superior efficiency and power density at the higher 5G frequency bands. Forecast from our top base station customers show a strong surge in RF power semiconductor content, both in dollars and especially in wafer consumption through 2023 for 5G. We're talking 3 times greater demand in 5G than the previous 4G LTE cycle. We therefore believe that the billion-dollar RF power market is poised to triple over the next few years on the back of GaN in 5G base stations.

Billion-dollar markets require high-volume semiconductor fabs. With the dramatic increase in wafer demand for 5G, it's imperative that the industry has high-volume sources for GaN production. Like STMicro's battery where we're sourcing GaN in Catania and Sicily. Catania is an order of magnitude greater in scale output than the world's largest compound semi fabs.

[bocase] 16/11/2018 09:06

Regas:

...and we all know that these analysts are paid massive sums for what is no more meaningful than wild guesses.

[regasclockwork] 16/11/2018 09:03

Fri 16 Nov 2018 08:20
Broker Forecast - Barclays Capital issues a broker note on IQE PLC
Barclays Capital today reaffirms its overweight investment rating on IQE PLC (LON:IQE) and cut its price target to 84p (from 170p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk -End-

From 170p down to 84p. look on the bright side, 84p represents a 40% increase from the 60p price that it is today.

I'm standing firm in the hope that APHRODITES's 'Hedge Fund' contact is right in thinking that a takeover is even more likely now due to the recent 44% price drop. GLA!

[tomduck] 16/11/2018 08:14

Maybe the two big holders have such big holdings so they can continue to churn IQE to death via strangulation.

[adejuk] 16/11/2018 08:09

they can't keep churning forever
sooner or later they'll have to raise the bid

[adventurous] 16/11/2018 07:49

FCA - Short Positions

02 Nov 10.74%

14 Nov 10.67%

15 Nov 10.56%

16 Nov ??


Where are they going to find 80m shares to close out?

[lpavlou] 15/11/2018 23:38

Did anyone notice that Macom reported that they have started a slow ramp up of GaN and it could be 6 months or so before thy are in full production mode. They have also done licensing deal with Infineon to go with the one with ST.

[drobinson1991] 15/11/2018 23:13

Looks to be no sign of reduction in short sellers as of yet under the disclosures and with T Rowe reducing their large position too there's plenty of sellers out there....

[thecrunk] 15/11/2018 20:58

Lumentum bouncing nicley

[mhassanriaz] 15/11/2018 19:21

Tech stock picking up Morgan stanley says iphone unit cut is an over reaction. Warren Buffet buy 500k shares of apple. Lite up 4%. We are likely to see some steam soon.

[provonar] 15/11/2018 17:15

TRP may well have sold to Oppenheimer off-market at a premium to the current price (which is probably what Oppenheimer did recently with another fund to buy up such a significant percentage in a short time). Why bother with a broker when you've got the legal staff to carry out direct share transfers? It's not something us PIs can do as it's not worth the hassle - but is normal practice for the big boys.

So, TRP having possibly sold at a higher price than the market may well now plan to drip-buy back in on the market with the shares at a lower level - essentially getting back to the same position but with some profit. What this means is that Oppenheimer is more positive about the short term recovery than TRP and are more keen on building their position quickly - thus are happy to pay over the current odds.

Thanks for reading my wild speculation.

[grity] 15/11/2018 17:15

JamesRowe , the sell on the 12th coincides with the fall on Monday , now if TRowe start panicking we are truly f&@ked .

[jamesrowe] 15/11/2018 17:01

I also don't understand why TRP sold at this price when they recently bought at a higher price.

[hannath] 15/11/2018 16:56

Rowe doesn't care he only lent them out and can call them back, or have them returned.

Rowe lent 46mill shares out …. which were sold into the market at well over £1 each. If he wants them back, or they want to close and give them back they will have to buy them back at 60p currently. so they have made 46,000,000 x 40p = £20,000,000+.
Whilst I hate the practice of shorting because it has manipulated "normal" trades (when they sold and bought back)they must be laughing at the profit. The way to fight back is keep the faith and not sell at these levels and cause a bear squeeze when they start, but I see lots of PI's bailing out.
Good point made the other day these might be reduced/closed out in December as actual profit could be worth a very large bonus to the traders. ? If we get a positive trading announcement in x4 weeks (20th Dec last year) it could trigger some sort of recovery and force a decision, but if they want to close out before the end of the year they will no doubt start earlier than that.

[jimboyce] 15/11/2018 16:50

My take is that they are consorting with Oppenheimer for whatever reason.

[joeall] 15/11/2018 16:49

You would think trp, would demand loaned shares back before selling?