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Share Name Share Symbol Market Type Share ISIN Share Description
IQE LSE:IQE London Ordinary Share GB0009619924 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.60p -6.75% 63.50p 1,579,876 16:35:11
Bid Price Offer Price High Price Low Price Open Price
64.25p 64.75p 71.05p 63.55p 71.05p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 154.48 14.92 2.09 30.4 486.0

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Date Time Title Posts
16/12/201818:33IQE's time has come - 2017 and beyond!23,577
25/11/201821:52BANNED from the Iqe thread - how absurd132
30/8/201814:09The ice thread1
05/8/201822:56Anyone else moving over to this BB from II ?6
24/7/201820:51Still time to look at IQE plc (IQE)-

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IQE Daily Update: IQE is listed in the Technology Hardware & Equipment sector of the London Stock Exchange with ticker IQE. The last closing price for IQE was 68.10p.
IQE has a 4 week average price of 55p and a 12 week average price of 55p.
The 1 year high share price is 164p while the 1 year low share price is currently 55p.
There are currently 765,351,668 shares in issue and the average daily traded volume is 1,640,810 shares. The market capitalisation of IQE is £485,998,309.18.
bocase: Considering the sell-off in the US last night (Dow down 800 points), I think the IQE share price is quite encouraging as we are well above the price at 4pm yesterday. The closing auction was a bit of a false high so really we are only slightly down today and improving. I feared it would have been a lot worse.
kazoom: IMHO a bit of a reality check is needed here. I do agree with the statement : "I think anyone adding here is going to do well." but only over a patient time horizon. To try and blame this on not having a "proper CFO" or on the late Monday 'panic' RNS is totally delusional. The Lumentum announcement on Monday and the subsequent initial RNS saw the price fall from 90p to 75p. The much more thorough and informative Tuesday morning RNS has seen the price draw back further from 75p to 58p. The forecast EPS has fallen by nearly a half and at the current price they forward PE is c. 30, when the FY results are announced in March what reason is there for the share price to be higher than today? I do agree that the medium term outlook still looks very rosy (so long as nothing else goes wrong) but from the point of view of those that have not researched deeply/become entranced with "the story" that is just "jam tomorrow". The idea that this is somehow the "fault" of an incompetent BoD is a nonsense. Even at these prices this is a BoD that has presided over a 3x(+) increase in the company's value in a very short time. What should they have done differently? Not done business with Apple at all, to avoid the customer concentration? Played hard-ball with Apple on contract terms? (Yes I know they are not a direct supplier to Apple, but Apple applies extended governance to it's supply chain.) All this angst and bluster is nonsense is is not conducive to making money on the stock market. You can take a number of stances onthe news : 1. Take the view that the longer term story remains intact and continue to hold. 2. Take the same view, but accept that the short term mood will continue to be negative and sell with a view to buying back when positive newsflow establishes itself. 3. Take the view that the company is fatally flawed and sell out permanently or even go short. 4. Something else. Personally I've gone for '2' and therefore take on a number of risks. a. A takeover bid is mounted whilst I'm not owning the shares. b. Samsung or AN other announces that they are going buy all of the written off stock (my assumption) from the withdrawn Apple orders and the revenue guidance for the next six weeks increases back to it's former level. c. The stock market fairies come to the rescue and recognise that because (for example) the Lumentum share price has recovered c. 10% to be c. level over two years; then the IQE share price should recover c. 55% to be up c. 8x over two years. IQE still looks to me a fantastic medium term investment if they can deliver on the promise, but a poor short term investment unless something unforeseen happens. Those keen to slag off the BoD for their personal discomfort would be better placed in considering their own personal investment decisions. All imho, blah,blah.
danny baker: IQE's trading statement looks amateurish but you have to bear in mind the circumstances which led to it. The IQE share price started sliding at about 1pm and then by the time it had dropped 10% there would have been a call from the Stock Exchange surveillance department (which monitors share price movements) to the company's broker to ask if there was any reason for the fall in the share price. The broker would then contact the company to be told about the Lumentum announcement and the possible implications of reduced shipments to Apple. IQE have probably not had any direct notification from Apple of any reduction in shipments at this point. The broker then quickly cobbles an RNS together on the known information and we end up with the RNS coming out at 16.20. Not ideal for anyone but I don't see how the company or the broker could make any other RNS announcement than the one they did. Not good news though and I'd expect another drop of 20% in the IQE share price tomorrow.
cyberdog1979: Now weve seen apple share price reduce and have little to no effect on iqe share price. Coupled with apple share price ramp not increasing iqe share price. Please i beg you stop banging on about apple
cheek212: Just a day in the life of the IQE share price!!
regasclockwork: thereptile - 13 Feb 2018 - 08:33:18 - 14053 of 21192 IQE's time has come - 2017 and beyond! - IQE "I feel the corner has turned here. Much more positive feel to the board, clowns leaving for pastures new." "We might even tempt the sweenoid back" -End- That was from a post of yours on 13-Feb, IQE share price 112p. A week or so later it had soared to 139p. Whether Sweeney read your plea at the time and swiftly reappeared I can't remember, but he did return AGAIN and was welcomed back with open arms. When he reads your, "I'm sure Sweenoid can be tempted back if we all ask him nicely", might work - go ahead and ask him nicely. I'll bet he's loving all this attention. LOL!
diplomat65: Sorry if already posted but just came across this Cannacord item dated yesterday on Hargreaves Lansdowne "IQE supported by Apple facial recognition, Canaccord sees more to comeThu 13 September 2018 13:47No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.(Sharecast News) - After Apple launched its new iPhone XS and XR range, there were positive implications for UK-listed semiconductor wafer maker IQE.All three of the latest iPhones have ditched the fingerprint sensor and will use facial recognition for security instead, which analysts at N+1Singer noted would mean IQE's Vertical Cavity Surface Emitting Lasers (VCSELs) are in all iPhones now, having been just in the top-of-the-range X model previously.However, Singer's noted that this was expected and makes up the basis for the much talked about ramp up in second-half volumes for IQE.Analysts at Canaccord maintained its forecast the iPhone contract implies IQE can do twice the revenues it did in the second half last year with its largest VCSEL customer.Canaccord's Paul Morland pointed out that IQE's share price has for some time now been almost exclusively focused on Apple and its supply chain, and the shares have fallen despite "perfectly respectable" interim results.Part of this is that other Apple supply chain stocks have generally been weak, with the market read-across hitting IQE."We believe this ignores the fact that today, in VCSELs at least, IQE has no peers. This will of course change, but our view is that it won't be this year and it may not be next year," Morland wrote. He said rival Finisar is "being overly optimistic" about its ability to produce 6-inch wafers and may even need to outsource them."I believe the market's obsession with the Apple supply chain is misplaced as far as IQE is concerned and at some point the stock's compelling fundamentals will re-assert themselves," the analyst said."IQE is now qualified with 24 VCSEL chip companies and we estimate that only three or four of these are, or will become, Apple suppliers. This leaves around 20 suppliers for the Android ecosystem and many other, potentially much larger, non-smartphone markets."With IQE having only addressed Apple, which has around 15% of the global smartphone market, next year the AIM-listed company "can start to address the other 85%".With IQE shares now on a P/E for 2019 below 20x, he reiterated his 'buy' recommendation and 190p target price.
regasclockwork: Well done IQE, it managed to break through that 89p barrier today which was 'achieved' way back on 05-02-2018. I think at that time, the fall, may have been a delayed reaction to the news that Schroders dumped 7m shares a week or so earlier. We now have a new floor of 87.60p from which to bounce off. On the other hand, VRS hit a new high of 184.80p this morning. Could the latter's success be due to management constantly updating punters with news. I think so, plus they have superg1 on their side who does a fabulous job sharing his in-depth research with his flock. We could do with someone like him on here. Now, how is 'our' IQE share price shaping up whilst I've been putting pen to paper? Let's see if we've broken yet another record. GLA! EDIT: From above - "We now have a new floor of 87.60p from which to bounce off. Make that, "We now have a new floor of 86.00p from which to bounce off - or fall through."
thecrunk: I did not say the board were to blame for the IQE share price going from 180p to 90p. I said I was frustrated with the board for certain of their actions and for pure neglected of certain key things. That neglect did not solely lead to the share price going from 180p to 90p. But that neglect contributed to it for sure.
hoverflyman: Richard here’s the text (you can register for free). I think the author underestimates the imminent ramp, and also the likely expanding Apple and other requirements. IQE: lumpy 'Apple' sauce at the pricey Cardiff chip shop 5 HOURS AGO By: Dan MC Crum IQE is the UK stock market's next great chip-making hope. It isn't a start-up, however. Drew Nelson, who still runs it, co-founded the Welsh semiconductor group 30 years ago. It also isn't by any stretch the next ARM, a chip-design group bought by Softbank for £24bn two years ago. IQE manufactures wafers (which, like the chips they are used to make sound edible but aren't) as part of a long and competitive supply chain for electronics, meaning it must always sink money into facilities, machinery, and research, to keep up. Instead, the company is best understood as an example of what a brush with Apple can have on the perception and valuation of a tiny company. The share price more than quadrupled last year on whispers it had become a supplier of parts for the newest iPhone: Even with some enthusiasm fading, the shares are still worth almost £800m, around thirty times what a handful of analysts expect the group to generate in earnings this year. In light of half-year results last week, that valuation looks mad. For instance, the company said sales to its largest customer in photonics were flat on the same period last year. IQE makes wafers used in photonic applications, in particular Vertical Cavity Surface Emitting Lasers (VCSELs), and the customer is generally understood to be Apple. Except it isn't. Apple is the ultimate end customer, but the direct client is Taiwan's Win Semi. The best guess of the supply chain appears to be that IQE sells wafers to Win, which manufactures on behalf of the “fabless”; Lumentum, a Nasdaq-listed US group. Above Win is AMS, the Austrian-headquartered semiconductor group, listed in Switzerland. Taiwan's Foxconn then assembles the iPhones in China. For ease, we'll refer to the extended chain as “Apple”. Last year, “Apple” paid IQE £23m, out of total revenues of £155m, according to the company's disclosure. IQE sales overall increased only £21m, with almost a third of that rise a benefit from currency movements. So the rest of IQE's non “Apple” business shrank. What this means is the transformation of IQE into a much-hyped growth stock, increasing its valuation by more than half a billion pounds, was entirely due to the arrival of “Apple”. Yet sales to “Apple” collapsed in the first six months of the year, to what they were in the first half of last year in constant currency terms. The progression over the last two years looks like this: The company said in its announcement of results the reason was inventory “from the very successful and aggressive first mass market ramp” was still hanging around in the supply chain. The interpretation of brokers -- IQE executives did not respond to several requests over three days to discuss the results -- is that “Apple” stocked up on parts for initial production of the iPhone X, and manufacturing was then paused this year. The extent to which it comes back is an important question. In July, Win Semi disappointed the market with surprisingly weak guidance for the third quarter, which analysts at CLSA called “a disaster”. The VCSEL business would decline in the third quarter, Win said, adding it would be very hard to grow revenues year-on-year in the second half of 2018. Here's CLSA, explaining what happened in an analyst note: The 3Q decline of RF and VCSEL is surprising given the typically seasonal ramp for new iPhone. WinSerni attributes the RF decline to customers' inventory pre-build in 2H17-7H78 when its capacity was super tight. For VCSEL, it is partly due to the prebuild in 1H18 as there are no significant spec changes, and partly due to the improving 3D sensing packaging/module yield. Our supply chain checks and calculation suggest there is as much as 40m equivalent 3D sensing module overbuilt, which means only another new 50m modules need to be produced in 2H18. Thus we do not expect a dramatic rebound in 4Q18 either. Even worse, what about the capex/capacity WinSemi has spent/expanded for Apple? The eternal problem for semiconductor companies is making a decent return on the capital they must sink into businesses which become rapidly commoditised. Revenues tend not to be a problem in a commodity business, as there are always buyers in the market, but the price and the profit prove beyond control. In VCSELs, Texan group Finisar recently cut the ribbon on a new factory. Pittsburgh-headquartered II-VI last year acquired a UK site to add to its capacity. IQE more than made up the drop in sales to “Apple” with new customers, but what's striking is that profitability was down across the board in the first half of the year, at a gross, operating and net margin basis, even as it reported substantial sales growth. To some, that might suggest a supplier to commodity markets with little pricing power, but IQE had a threefold explanation. One was currency, due to a stronger pound compared with the same period last year, which suggests a significant risk factor given the uncertain path of Brexit. Another excuse was the cost of switching some machines from photonics to wafer production, which seems odd given wireless sales were only 11 per cent higher than the same period in 2017. IQE also pointed to “foundry-pre production costs of £0.9m”. The question here is why aren't these capitalised, if they relate to future production? A possible answer might be that a company can only capitalise so much of its expenses, and IQE already undertakes substantial capital investment. Capitalised research and development expenses were £6.4m in the first half of this year, costs that would have pushed the company into losses were they taken through the income statement. Indeed, the story of IQE is of a company which doesn't produce free cash flow on any sort of regular or bountiful basis, ie has some left over after investments in machinery, facilities, research and those capitalised costs. It raised £95m of cash from a placing in November, leaving it with net cash of £41m at last count. Substantial investment plans look likely to consume that, and anything else the business produces: another £59m to £82m of capital investment is planned over the next 18 months. In the last year the business generated net cash from its operations of just £20m. It is of course possible a transformation of the business lies ahead. Maybe staggering growth in wafer sales will come without triggering a competitive response, and cash will peter our in from Cardiff. The long history of IQE suggests another lesson, however: Every long cycle brings a new set of investors to the story of the chip company which might, but doesn't.
IQE share price data is direct from the London Stock Exchange
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