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
  -1.35 -2.73% 48.10 537,330 11:45:41
Bid Price Offer Price High Price Low Price Open Price
48.00 48.35 49.05 47.70 48.95
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 156.29 6.75 0.13 370.0 386
Last Trade Time Trade Type Trade Size Trade Price Currency
11:45:31 AT 4,752 48.10 GBX

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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 49.45p.
Iqe Plc has a 4 week average price of 43p and a 12 week average price of 42p.
The 1 year high share price is 91.75p while the 1 year low share price is currently 42p.
There are currently 802,006,479 shares in issue and the average daily traded volume is 1,462,779 shares. The market capitalisation of Iqe Plc is £388,572,139.08.
bing_b: Should point out that the last time (other than the covid melt down) the share price languished at these levels was after the November 2019 trading update. THEN: IQE reduced FY19 guidance from £140m-160m to £136m-142m with much uncertainty around recovery prospects. Actual FY19 revenues were £140m. Edison reduced FY20 revenue forecast to £152m. In reality FY20 revenue turned out to be £178m (in my book thats a beat Post 35985). NOW: IQE maintain FY21 guidance at around £178m constant currency (though I think they will struggle to hit this). As for prospects: Wireless: IQE content in 5G ready phones appears to be increasing and forecast sales of 5G phones currently very positive. Edison noted temporary slowdown (effectively a halt) in 5G base station infrastructure (as did IQE themselves some months ago) and a return to growth 'a question of when not if'. So to me the prospects for the wireless business remain strong. Photonics: Performance remains disappointing particularly following Apple's miniaturisation of facial recognition chips. Big negative but historically such developments eventually spur greater volumes. Just need android to begin to challenge Apple dominance in 3D sensing (but no evidence at present). Really can't understand the sentiment regarding the as expected trading update. Wireless is the bread and butter and photonics is the cream. LLoL - agree limited visible short term growth prospects re photonics but per the above, to me wireless prospects are very strong.
crosswires: Guildedge my take is the same, why do investors and the company think today the company is undervalued when it makes losses or occasionally reports a small profit? I think the bottom is probably mid to high 30s so not far away, but I cannot see the share price being higher than 55p until they deliver some positive news re earnings upgrades. Other than that the market has virtually nothing exciting to get their teeth into with IQE as they only deliver news at TU and earnings. The market loves companies that update investors with news. Talk of the new CEO driving the share price upward by much is imo wide of the mark unless they have managed to get a heavyweight USA sector peer or likewise from ARM. Such a disappointing share, effectively one foot forward and two back almost every year apart from 2017 and last year when beating the horror year prior.
crosswires: Hashtag Sally 😂 it shouldn’t be funny to lose so much paper money in a week, especially as I saw it coming. When IQE deliver a so so earnings they drop 20%, when they deliver a bad earnings they drop 50%. Maybe soon they’ll deliver an earnings that means the share price doesn’t drop 🤓 Re Edisons £184m target, let’s see, I remember Monty and Savvy claiming £200+ for this year, how spectacularly wrong did they turn out to be? Frankly it beggars belief that IQE board think they are doing a good job for the shareholders. Sure it’s great that they employ people and are a talented bunch when it comes to developing new tech, but do they understand what the market wants to see? Surely they can’t think their share price is being treated unfairly with what they deliver re revenue growth and actual profits?
crosswires: inv - if they guide ‘22 earnings 5-10% above this year then entirely likely, if they guide flat or lower earnings over this year then we’ll be back in the 40s. That is solely what the IQE share price hangs on right now, not charts. Let us hope it’s the former!
aimingupward2: News from IQE just out. The Taiwanese Court Case has concluded in IQE’s favour. “This transaction ensures that the returns from our continued investment in Taiwan will be wholly attributable to IQE's shareholders." Excellent. Share price responding immediately.
provonar: dave_spencer, Indeed, Apple always aim to have multiple suppliers, which is why they've sunk such a massive investment into II-VI to have an alternative to the Lumentum/WIN Semi/IQE supply chain. While Lumentum were their sole Tier 1 supplier, they were making money hand-over-fist off Apple. That was also a big factor in why IQE started their bull-run when VCSEL wafer sales took off in 2016. Now, with II-VI taking a slice of the pie and Apple undoubtedly trying as hard as possible to play suppliers off each other to drive costs down, there is down-side risk, which is exactly why I stated we'll have to see if II-VI's contribution is eating into that extra revenue growth. Against this risk is the counterpoint that epitaxy production is not the same at different suppliers - thus the VCSELs produced with IQE wafers may well be for different applications than those produced by II-VI. However, WIN Semi themselves also source wafers from multiple suppliers, so the same logic applies at the Tier 1-to-Tier 2 level as it does at the OEM-to-Tier 1 level. If iPhone Pro sales continue to increase, but IQE's photonics revenue doesn't grow along with that rise, then we'll know IQE are losing market share. The fact that IQE's end-market is growing again should be good news for IQE, but as yourself and plenty of others have stated repeatedly, the proof is in IQE's execution - and their dearth of trading updates announcing contract wins points to a lack of such execution. I don't agree with your point about the margins of these wafers. There is no way IQE can function with high volume orders by having them as loss-leaders. To the contrary, it is the high volume orders in wireless and photonics that have pushed their revenue and free cash flow growth so that they could dig their way through the debt-pile of the tool-expansion (with consequent depreciation). It's absolutely clear that IQE are in a capital-intensive game, but I've been happy with how they've taken on and reduced debt in the 2012-2015 timeframe and how they're repeating that performance now. If VCSEL wafers were loss-leaders, there is no way on Earth they could maintain a decent current ratio, as their liabilities would balloon. The big problems that IQE have right now are that their two big markets have hit a hiatus: wireless due to the pause in infrastructure roll-out and photonics because the expected growth in Android VCSEL take-up hasn't materialised (compounded with the lack of expansion of VCSELs into more affordable iPhone models). 2021's share-price performance has been woeful as a result. When these markets start moving north again, so will IQE's share price.
dockenfieldman: Appointment of Victoria Hull as Non-Executive Director IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of advanced semiconductor wafer products and material solutions to the semiconductor industry, is pleased to announce the appointment of Victoria Hull as Non-Executive Director, effective from 1 August 2021. She will also become Chair of IQE’s Remuneration Committee following Sir David Grant’s retirement in September. An experienced Non-Executive Director, Victoria is currently serving Non-Executive Directorship and Remuneration Committee roles for listed technological companies including Alphawave IP Group plc and Network International Holdings plc. Victoria is also the Senior Independent Director for Ultra Electronics Holdings plc. Prior to these appointments, Victoria held an executive directorship at Invensys, now Schneider Electric. Having worked in a variety of global companies at Executive Committee or Board level, her appointment to the Board of IQE brings an extensive understanding of legal, commercial and governance matters. Victoria has a strong background in corporate finance and began her career as a trainee solicitor at Clifford Chance LLP. Phil Smith, IQE Chairman, said: “On behalf of the Board, I am delighted to welcome Victoria to IQE. The depth and breadth of Victoria’s experience, gained across a variety of sectors including technology, will prove invaluable. We look forward to embarking on our next phase of growth with our strengthened Board.”
lord loads of lolly: Oh pleeeeeaaaase. This takeover notion is touted around every time the share price is low (i.e. quite a lot recently!). If IQE had been in someone's sights, don't you think they'd have pounced last year when the share price was mid 20p level? Also, the company hardly presents a great opportunity currently, with sales stagnant, margins low, the new CEO nowhere to be seen & poor forward earnings visibility. So even if there was a potential predator, it could simply bide its time until there's greater clarity. After all, short term IQE's share price is going nowhere fast.
crosswires: Indeed the share price is not down here without reason, the market sees no short term boost to earnings, and it is hard to disagree. Patience is required and a certain level of resilience because IQE tends to let investors down. The tide won’t turn until the market can see the extra revenues coming imminently imo. Re the 5G roll-out I believe it is not happening globally as rapidly as some thought. The advantage over 4G may be major on paper but in reality most people cope extremely well on 3/4G for now. It could be 2024/25 until the real ramp occurs, when a critical mass in 5G handsets start to hit the market, right now volume wise it is niche. I continue to hold until Sept results but will sell then if the outlook for ‘22 is stagnant or worse than this year, assuming the share price is not lower than now of course. If the share price is lower then i’ll lock it and forget it as an investment for several years.
provonar: In the recent trading update it was said that an increase in wireless orders was off-setting the hiatus in infrastructure roll-out. This may well be why: hTtp://www.semiconductor-today.com/news_items/2021/jul/strategyanalytics-160721.shtml "Suppliers Qorvo, Broadcom and Murata won significant slots in 5G mobile devices as well ... These firms have made significant advances in RF FE integration and filters in particular, a key aspect of the RF front-end." Specific mention of filters, which may relate to the advanced cREO filters coming from IQE epiwafers, of which at least Qorvo appears to be buying. Also, the CS PA market looks like it's picking up: hTtps://www.digitimes.com/news/a20210720PD201.html "GaAs foundry houses Win Semiconductors and Advanced Wireless Semiconductor (AWSC) and epi-wafer maker Visual Photonics Epitaxy will continue to see the 5G PA segment as their main revenue growth driver for second-half 2021, given that both Apple and Android handset vendors will be rolling out new flagship smartphone models in the months ahead, the sources said." So, IQE should continue to ride this wave, too. However, regarding the infrastructure situation: "The sources continued 5G PA or optical components for base station applications entail higher gross margins than those for mobile devices, but their demand is not expected to pick up significantly in the short term, as 5G base station equipment makers in China still have a certain inventory of components to digest." So, there's further de-stocking to go in China before they ramp-up the base station roll-out again - but, at least, this will increase again. Interesting that the infrastructure h/w is higher gross margin than for hand-sets - that may be significant at IQE's level, too, which is why it's been such a depressive factor on revenue for H121 even considering the higher level of CS components in handsets. Coming up on September 2nd, there's an interesting seminar by Yole on the 3D sensing consumer industry: hTtps://www.i-micronews.com/event/3d-sensing-for-consumer-forum-2021/ Reading the lecture abstracts has a few little nuggets, especially with reference to how "lift-off" of the photonics market hasn't happened yet (which explains why IQE are not yet expanding the number of tools at Newport). "2020 has been a very epic year for 3D sensing with a roller-coaster of news. The first move was a positive one from Apple in following Huawei and Samsung introducing rear-facing 3D cameras on the iPad Pro and iPhone 12 Pro for AR or 3D scanning applications. However, Apple did bring a significant technology step forward by using Sony’s dToF array instead of the well-established iToF arrays the same company was supplying so far to the Android camp. In the second quarter the epidemic had spread around the world and severely affected the mobile phone industry, its sales slowed down by about 10 percent. Even worse for mobile 3D sensing, Samsung stopped using rear 3D iToF cameras in its flagship phones and downgraded it to a multipoint dToF detector. Then in the summer we learned that Huawei, the de facto market leader in mobile 3D sensing, would not be able to contribute much in the future because of US sanctions against its business. So wrapping up 2020 and having 6 month into 2021 what is the situation of the 3D sensing market? As a first glance we can already announce that Android players didn’t give up on 3D sensing yet, they have been developing under-display cameras and in particular under-display structured light as some players already have demo phones on the table. Personal computers, tablets, and robot vacuum robot market, have all embraced 3D sensing to a certain extent, and have all benefited during the epidemic, due to stay-at-home policies. The epidemic situation, which requires for less contact, has prompted the market to develop products for non-contact interaction, which is a strong application benefit of 3D sensing ..." So, I'm glad to hear that the Android adoption of VCSELs may yet happen, just that the US policy towards Huawei really put a damper on that expanding market (and may be one of the reasons why IQE didn't mention photonics at all in the latest trading update - it's in the doldrums and will possibly stay there in the short term as it looks like rear-facing VCSELs won't be included across the iPhone 13 range, but still only in the Pro models). So I'm expecting photonics to stay flat this year, but wireless should pick up towards the end of H221. However, we're still not seeing the kind of growth expected of a company like IQE - the new CEO will have to address this and focus on better sales and marketing to compete ruthlessly with the amount of vertical integration that is taking place across the supply-chain. Some better communication to the market wouldn't go amiss, either. During the early days of Covid there was good, regular communication - but this has come to an end. The latest market update was threadbare, to say the least - nothing about photonics, nothing about future expectations, nothing about IR, nothing about cREO filter sales, nothing about IQVCSEL turn-key product uptake. Possibly this was to keep powder dry for a new CEO - let's hope there's a clear change in approach to come with a new injection of energy.
Iqe share price data is direct from the London Stock Exchange
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