Share Name Share Symbol Market Type Share ISIN Share Description
Iqe Plc LSE:IQE London Ordinary Share GB0009619924 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  3.30 3.88% 88.30 8,845,862 16:35:17
Bid Price Offer Price High Price Low Price Open Price
87.95 88.30 91.75 82.15 84.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 156.29 6.75 0.13 679.2 703
Last Trade Time Trade Type Trade Size Trade Price Currency
17:08:05 O 46,000 88.30 GBX

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Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-21 17:08:0588.3046,00040,618.00O
2021-01-21 17:07:2988.303,3112,923.75O
2021-01-21 17:07:1089.88908816.07O
2021-01-21 17:04:5689.853,6983,322.73O
2021-01-21 16:52:2588.4478,33269,276.82O
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Iqe (IQE) Top Chat Posts

Iqe Daily Update: Iqe Plc is listed in the Technology Hardware & Equipment sector of the London Stock Exchange with ticker IQE. The last closing price for Iqe was 85p.
Iqe Plc has a 4 week average price of 70.45p and a 12 week average price of 52.25p.
The 1 year high share price is 91.75p while the 1 year low share price is currently 18.86p.
There are currently 796,353,479 shares in issue and the average daily traded volume is 5,621,991 shares. The market capitalisation of Iqe Plc is £703,180,121.96.
dave_spencer: Absolutely delighted to be proved wrong if IQE continue to impress the markets. More delighted that I didn’t sell one single share of my substantial holding (well substantial for me) when apart from the usual suspects most people were falling out of love with IQE. The turnover figures and 25% yoy growth certainly look impressive. Cash reserves and debt levels also impress. Hopefully PBT will also head in the right direction. Shorters being burned has a kind of warm and glowing feeling 😀 If chips are indeed in very short supply I just hope that all suppliers increase the price accordingly. Let’s face it the Apple’s of this world do everything possible to pressurise their suppliers into maintaining the lowest possible price and they don’t give two flying f.... about the consequences of their actions. Momentum is key and if the IQE share price quickly goes over £1 then we might actually be in for a very interesting 2021.
lord loads of lolly: montanaro - Today's update was certainly encouraging. But a £2 share price within the next year would imply a market cap of £1.6 billion. Work out the forward PE implications of that. Then ask yourself whether IQE is likely to be generating those levels of profit a year from now. I get all the arguments about scale, lower future capex requirements etc. But let's keep it vaguely real. Perversely, it might not be in the best long term interest of shareholders anyway if the price rocketed as you suggest. Last time, when the price peaked at around 180p, a lot of posters here decided to hold on, expecting even more. Shorters moved in quickly - sensing a bubble - and the rest, as they say, is history. It's human nature to be greedy, especially when a share price rises rapidly. And if the price then starts falling, it's easy to explain this away as a temporary aberration. And that can end in tears. Like when it plummeted from 174p in Nov 2017 to 100p less than 3 months later, before a series of peaks & troughs led to March 2020's 22p low. I, for one, would actually prefer to see 2-3 years steady trading growth now, with a corresponding steady & sustained rise in the share price over this time.
crosswires: When you consider how hard the IQE share price got hit in the chip oversupply year it’s only fair that in a year when there is a chip shortage we should be flying again. £1 should be a fair price when consider the market and what’s to come. Hopefully I’ll be upping my share price target come March when they forward guide.
dockenfieldman: It was great to receive a trading update from IQE as only last week we were told that nothing official was planned from IQE until March. I was a little disappointed that the revenue was under £180m but £178m was close so I am reasonable happy and relieved that it was still higher than forecast. A positive cash position was a bonus although the trading for 2021 was conservative and certainty not aggressively positive. It will be interesting to see how the market takes this news as I am certain at least £175m was already priced into the IQE share price. Looking forward to some positive trading statements from our clients and perhaps we can drift closer to £1 and be ready for a breakout in March when the results and further trading update is announced.
aphrodites: Adejuk As I posted on 8 January here, and endeavoured to explain in quite a lengthy post, I said: “Every time the share price moves to, or just above, 75p the price hovers there for very brief periods only to be moved back again, just below it. I am not entirely sure Ennismore is the culprit. It could be an Investment Fund establishing a holding in IQE. But it is irrelevant who it is. I am sure a Market Maker is working an order for someone to buy a block of shares, say 10m at a fixed price, say not higher than 77p at the present time. The MM is playing the share price like a salmon on the end of a fishing line. Taking the share price up to 75p and just above, buying everything that is offered, then dropping the bid side, or even selling a little stock, to take the price down again. It is then repeating the exercise time and time again. It is noticeably clear, there is little stock for sale in the market, but there is unquestionably demand to buy. The share price would be so easy to manipulate downwards in the present illiquidity of the market for IQE shares and I am surprised it hasn’t been knocked back to say 69p but this in my opinion indicates there is more than one buyer.” Immediately I posted that, and after weeks with the price stagnating around 75p, the price appeared to break out and moved to a slightly higher trading range. Rest assured Adejuk, it is clear there is a big buyer/s; I believe there are two, but there are still no major sellers. And that is the problem. If, as I believe, a MM is working an order to buy stock and there are no sellers, and more importantly there are no real buyers other than the followers of the share here on ADVFN, there is no other choice for the MM to work the market as we have seen over the last 6/8 weeks. Only a fool chases the price. We may well now see the share price stay around the 80p level until the MM, or whoever he is working for, moves his buy price. As Savvy says, it is illegal to collude to create an artificial market. But when the market forces, as we are seeing in IQE shares, allow someone to sit on a price and keep it in a tight trading range you cannot accuse anyone of colluding. We need more institutional buyers and we may not see that until the results in March.
knackers: Lpav - yup was thinking that too, but pretty clear sector sentiment continues to improve with clear evidence of next gen applications and demand now kicking-in with IQE’s reputation for consistency and quality well-established globally. Much has been said about IoT but now apparent just how big an impact LiDar and 5G will have on the industry. 5G for device manufacturers is non negotiable going forward. Pre vs Post 5G is a massive step-change, nothing short of an IT infrastructure arms race. In the ultra-hyped EV market clearly Tesla is viewed (based on their current souffl√© MCap) as the only EV show in town. That’s patently a heavily horse-manured / deeply deluded view. In comparative valuation/sp terms I think we’d be looking at an equivalent IQE share price iro £20-30!!! Nice thought mind... Keeping our feet firmly on the ground for the moment is the way fwd so how IQE are placed to meet and capitalise in the anticipated orders/demand ramp near term is something I’d expect to hear more about with FY results.
aphrodites: May I say Monty, a great note to go out of 2020 in a blaze of glory on! 😊 I echo and support many of the points you make especially that applying to IQE’s P/E ratio which I too have argued previously here, should be put to bed at the present time. As we all know here, IQE is a growing company with technology at the cutting edge of global new developments and this appears to have been totally lost by many analysts looking at their business. My son-in-law, who has a Ph.D. in computer technology and research, was employed by an overseas Hedge Fund. He has been critical of many of the broker analysts he has met who are supposed to be experts in the businesses they research and advise clients when to buy/sell. He has been frustrated by many who are straight out of university with all sorts of supposed qualifications, but they have barely any working experience in the fields they are then employed to research. He claims, frequently he has had to direct and put them straight in their recommendations. In one major broking company in which an analyst had written a “SELL” report, he had to put them straight on a certain matter and a week later they had to revoke the report and recommend it as a “BUY”! So, the rule is: Do not listen to many of the brokers analysts. Do your own research. As an example, my son-in-law carried out in depth research into NVIDIA. He established good working relationships with the CEO and Finance director. This was not insider dealing but he did get to know and understand what the business was all about, inside out! And he informed me the Hedge Fund he was working for bought over 2m shares when the price was below $30. And the shares today stand at $517. He is in his early 50’s and has 3 children in private education and is now back living, unemployed, in the U.K. So, he must have received some particularly good bonuses!!! Like you Monty, I do not boast to have the wonderful working knowledge or technical understanding of the likes of Sweenoid and others here as to what IQE is all about. But their posts have been invaluable in helping me to understand better and to support my IQE investment strategy! And, I did learn a lot from my working years when being responsible for overseeing £20billion of funds. I have never allowed charts to dictate my investment strategy, but we did employ a technical analyst! When contemplating a position, I always wanted to know whether my own research and gut feel was supported by the charts. And in IQE it certainly has been and is going forwards. I ignore all the talk about 75p being a resistance level in my long-term view of where I believe IQE’s share price is going. With so many people talking about 75p being a resistance level it almost becomes self-predicting! But what I do know, is that you can subdue a share price for so long before it breaks out. 75p has been attacked several times recently and the so-called resistance foundations are gradually being chipped away. Hornblower’s chart posted several weeks ago supports my gut feel that we will break 75p early in the New Year and it will then motor on fast to 100p. There is so much good news about the fields of business IQE is involved that PE ratios and the conservative approach of the F.D. should in my opinion be ignored. I am not quite as bullish as you are Monty, but I certainly expect to see us test the 180p level in 2021. And this leaves me now only to wish all members of this thread a very Happy New Year and may the profits from IQE see you all enjoy a long life of pleasure and when you retire.
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.
aphrodites: Sorry about the length of this post but I have only now had time to digest the recent research report from Edison. There are parts of the report which are highly enlightening, but I am afraid I am bitterly disappointed by what I can only describe as an ultra-conservative report by an analyst who is too domestically based to look over the horizon at what is going on globally. And parts of the report totally conflict with the statements made on IQE being a “Key Player” and the “Largest Outsourced Supplier” to the semiconductor industry! I thought it unnecessary for it to comment four times on what effect the pandemic might have on the company’s future trading. But what irritated me most was their comments relating to the ground lost in the supposed panic selling in March, the current share price improvement and any further price gains being dependent very much on the recession cash-strapped consumers not being affected by the pandemic and them being able to upgrade their handsets. Firstly, the crash in the share price was very much in the hands of the “shorters̶1; who were active in encouraging the fall. Secondly, IQE repeatably highlights it is a World Leader in its business. Edison supports this statement by emphasising in its report that the company is the largest supplier globally of compound semiconductor epitaxy wafers but it does not emphasise the benefits of what being a global leader brings to the company. Thirdly, it is against this conservative background that we then we read Morgan Stanley is lifting its view on the U.S. telecom/networking equipment sector, expecting a potential return to offices in 2021 which will spur some network upgrades, supply and demand should normalise via spending cycles including 5G buildouts, a return to campus network investment and upgrades of optical/networking equipment by hyperscale customers. They are also upgrading Lumentum to Overweight. Also, Appleinsider, lead analyst Daniel Ives cites from another report, Apple plans to produce up to 96 million iPhones in the first half of 2021. A bump in production representing a 30% year-over-year increase in smartphones. And suggesting Apple could sell upwards of 240 million units. All this while IQE’s good old company broker Edison, worries about the global recession, and how it might affect IQE’s trading!!!! At the same time, the analyst has almost put a cap on the IQE share price around the 70p level unless as a Fund Manager you have a greater perspective/insight about what is going on globally. Certainly, all the shorters seem aware of this apart from Ennismore, which is still struggling to close its position. Ennismore is extremely fortunate that Edison’s conservative report didn’t suggest the share price, as I believe, should be around the 100p level. The purpose of this post is to draw attention to the fact that Ennismore is fully aware that 75p is a big chart point which if it breaks could take IQE’s share price racing up to 100p. As a result of Edison’s lack of bullishness, very few fund managers reading it will put their toes in the water to invest in the company at the present time. It is also evident, there are very few buyers in the market other than Ennismore, as it tries to close its short position before the year-end. More importantly,there are very few sellers!!! I would put my money on any selling in the market coming from Ennismore itself as it runs rings around the Market Makers, by attempting to manipulate and to keep the share price below 75p. At the same time, Ennismore continues to soak up any sizeable chunks which are sold in the market by daily traders. What a pity our company broker Edison could not have been more upbeat about IQE’s share price!!!!!! It is playing into the hands of Ennismore!
dockenfieldman: Like others on here, I believe any weakness in the IQE share price presents a buying opportunity to start stake building or increase holdings. Shorts closing, increased revenue,sector booming and a new CEO to be appointed, what is not to like about IQE? There will hopefully be a time very soon when you will dinning out on the fact you bought IQE sub 70 p.
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P: V: D:20210122 06:36:14