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IQE Iqe Plc

-0.40 (-1.89%)
07 Dec 2023 - Closed
Delayed by 15 minutes
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
  -0.40 -1.89% 20.75 1,334,022 16:35:11
Bid Price Offer Price High Price Low Price Open Price
20.35 21.00 22.50 20.60 22.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electronic Components, Nec 167.49M -74.54M -0.0775 -2.70 200.95M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:55:28 O 42,931 20.613 GBX

Iqe (IQE) Latest News

Iqe (IQE) Discussions and Chat

Iqe Forums and Chat

Date Time Title Posts
07/12/202315:51New CEO, new hope, new start for IQE in 20223,629
04/1/202311:05IQE - THE ONLY WAY IS UP!!.64
11/11/202216:42IQE's time has come - 2017 and beyond!36,722
17/10/202206:50IQE - Time to get back in after results?27
31/5/202210:20IQE - TURNED A CORNER, SET TO RISE29,628

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Iqe (IQE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Iqe (IQE) Top Chat Posts

Top Posts
Posted at 07/12/2023 08:20 by Iqe Daily Update
Iqe Plc is listed in the Electronic Components, Nec sector of the London Stock Exchange with ticker IQE. The last closing price for Iqe was 21.15p.
Iqe currently has 961,504,577 shares in issue. The market capitalisation of Iqe is £200,954,457.
Iqe has a price to earnings ratio (PE ratio) of -2.70.
This morning IQE shares opened at 22.50p
Posted at 12/11/2023 17:23 by picobird
Both Tesla & Apple have/are showcasing their GAN chargers this year.
For instance in Tesla’s case, the electric car range is increased by 15%.
The Chinese are also chasing this new technology in part by being excluded from the AI chip.
AL can see all these changes taking place & that is why he is ‘walking the talk’ with IQE share purchases.
It could well be that with this new technology IQE are actually going to be in the right place at the right time for a change.
5g base stations also depend on the use of GAN.
Anyone who buys into IQE at these low share price levels could well be laughing in five years time.
The downside to all this will be the need to raise more money by a rights issue. That won’t be done until this share is much higher so don’t panic !
Posted at 27/10/2023 00:27 by guildedge
Buying now would be foolish. So much risk and market forces playing with share price These are not normal daily trades. The share is being forced lower.

Whoever is selling, is dumping enough shares to lower share price, then waiting for market to buy up shares. Shaking the tree then encouraging new leaves to be shaken off. Rinse and repeat till the share hits 12p or less. It's strange Invesco sold so many at 18p or so when share has drifted so much more.

Could be a mix of those that took shares at 20p now dumping them. Not sure why funds buy and then dump them after share issues. Look at CWR 2 big share issues and back to 300p from 1400p. How many share issues actually cause share price to long term rise?

Are shorters still playing around with the share? GSA Capital Partners LLP are now at 0.5% as of 25th Oct. So there are clearly companies still shorting below 0.5%. A small short here could easily force the share down with volumes at 2-3m a day. Fact they are even shorting at 14p is a worry.

GSA Capital were at 0.49% in May 2022. So actually a small short increae here for them could help lower price. Proves there could be many here with shot positions under 0.5% still as they think share has further to fall. What percentage of shorts hold IQE? 3-5%? So many short positions that diped to just below 0.5%. It peaked around 20%. However the big sharts mainly cleared.

When volumes kick in that is usually the sign that the rot has stopped. Invesco sale was a fale lead on that front.

So worst case scenario. What if 110m a year was now IQE standard revenue? There is no way IQE could turn a profit at those kind of numbers. I think the concern with the market is Apple sales are not recovering. I just hope there is no more stock building up in the channels.

I don't think sales will fall further my concern is when will they rise back to a point where IQE make money. They have got new business lined up will it be enough to cover lost business in short term. If they have to raise money in next 1-2 year then that will be at 10p or lower if things don't improve. Maybe a takeover? What did Lemos see that the market is missing or are IQE in an unlucky market situation. Is 3x revenue a dream or reality?

110m turnover losing 25. How do you put a value on that? 110m or less if you view that they are sitting on equipment that is not being used? 12p would value it at about revenue.
Posted at 18/10/2023 08:52 by lord loads of lolly
guildedge - much better! Not for confirming other posters' slightly more positive stance, but just for being more balanced.

You say twice that the "share has hit rock bottom". If correct, that in itself is a HUGE positive, implying it has no further to drop. Personally I doubt that. But I do think it would be oversold if it dropped another 20-25%. My sense is that we've at least another year of pretty appalling figures, even if things then start turning round.

I don't take a huge interest in the short positions, unless they suddenly change dramatically. Holdings under 0.5% aren't listed, so you never really know what's going on. Whilst highly unlikely, there could be 200 shorters - each with 0.49% - and we'd be none the wiser.

I continue to hold for most of the other reasons you mention (but I won't add - at least not unless we fall to around 12p. And possibly not even then). My main reasons for holding still are:

1) I think Lidar could be a major medium term opportunity (not just in the UK).

2) The CEO has plenty of skin in the game. But equally, I like his background and the contacts/ties he still has to GF. He strikes me as commercial - a man with a plan in a reasonable hurry to implement it. Unlike his predecessor who was - well - just a man really.

3) I still think worse case scenario here is that GF takes out IQE if/when the 3x revenue 30% GM vision looks shot to pieces. And I doubt this would be at a significantly lower share price than today's, as I don't see it happening for at least another year or two. By which time, IQE is likely to be in a slightly better place (albeit possibly still way off the vision & not looking like it's ever going to get there). So to me, there's limited downside on a 1-2 year view, but possible scope for the share price to drift lower during the current FY.

4) New partners already on the horizon could shift the commercial landscape somewhat

I don't see the Tower case as a reason to hold. It could still go either way. And the legal costs, not to mention the distraction, will be huge.
Posted at 16/10/2023 22:12 by guildedge
Hard to blame just brokers when IQE has been doing so badly. Their clients had 30m stock to clear come January. The reality is revenue had dropped by at least 54m from 2022. Assuming they even reach 114m. About 62m for H2 at best. I actually think these broker figures could fall further. Not had a broker price in a few months now for good reasons too.

Someone at the brokers or IQE must have known how much stock was building up. Meanwhile Jan 2023 the stock surged to almost 60p. IQE must have known how bad it was many weeks before this. Maybe funds gambling on good news? Drop from 59 to 46p. 2 months later a further drop of 20p. You wonder why Pullen got kicked out? Asleep at the wheel? Maybe a scapegoat to keep investors happy? Were conversations being had with customers about demand and parts build up? IQE must have known the share price was well over priced.

IQE need a serious pick up in mobiles and other area. Meanwhile there are other firms trying to do what IQE does. How good is their IP to keep hold of business?

Maybe the car industry in Wales can help a bit but they need to start taking a honest look at where things are at now and manage costs. I hope for investors here the big plan does work.

For 143m next year that requires a 10-15% boost in revenue on these predicted numbers. Unclear what impact Israel is having on IQE. Not sure it's a big impact. Find out soon enough.

Next TU November or Jan? My guess is closing statement. Not sure revenue can fall much from here. Question is can it rise enough for 2024.

Maybe what your fear should be is that you give what IQE says a pinch of salt. Many here would not. I wouldn't blame them.
Posted at 09/10/2023 14:50 by lord loads of lolly
Guildedge - thanks for caring, but no need to worry about my finances!

I did only say I'd be TEMPTED to add if the share price dropped another 25% or so. I've yet to decide whether I'd actually take the plunge. It might never come to that anyway.

The points you make are certainly valid and sum up IQE's current predicament.

But a lot of IQE's woes are down to critical mass (or the current lack of it). I wouldn't rule out Americo changing that within 2-3 years. He IS well connected and appears to be a man on a mission (unlike Captain Nelson, who was on a permanent cushy little cruise to nowhere).

Of course, if Americo does succeed, there'll be advance signs of the forthcoming turnaround. And if/once that happens, the share price will already have re-rated upwards. So you either wait, keep your money safe over the next few years & potentially miss out on some of the eventual upturn. Or you get in when pretty much everyone else has written IQE off and hope you've seen something they haven't.

Either way, it's kind of a gamble.
Posted at 09/10/2023 14:18 by master rsi
re - The share price was hoovering between 3p and 5p in 2003

I did open a thread at that time as the share price was 4.50p. She went up to 181p back in 2017 and back to 15.70p now

Master RSI 2 Feb '03 - 22:10 edit
IQE know where they stand, Amberwave (IQE's partner) increasing its Asian presence, this is a bullish trend and a good point to pick up the shares @ 4.50p.
IQE thread ....
Posted at 14/9/2023 10:11 by lord loads of lolly
With the possible exception of an eventual approach from GF, I don't see IQE being bought out.

It's been rumoured umpteen times over the years. Yet however low the share price drifts, nobody has EVER stepped in. So why would they now? Sure, the share price is bombed out currently. But with no profits on the horizon for several years to come, what exactly's going to support it short term, even at its current low level?

So here's how I think this'll play out:

Either: IQE will stage a cyclical recovery & survive independently (my guess is this is the most likely scenario, as I do think there are some decent longer term growth opportunities, if only IQE management can avoid stuffing it up for once).

Or: shortly before 2027, Lemos will finally be forced to admit his Capital Markets vision is in tatters and that his GF buddies are making a low ball firesale takeover bid. One of my concerns remains that for all Americo's skin in the game, he can't really lose. If he turns IQE round, he'll win big time with his share options & purchases. If he doesn't, chances are he'll manage to orchestrate some kind of rescue bid from GF that keeps him employed. Whilst possibly also still allowing him to recoup most of the money he staked.

I said when the latest update was issued that the share price might rise slightly - and indeed it has. I also said I felt 15p wouldn't be the bottom - and I stand by that.

On a 3 year+ view, it might be a decent - even exceptional - buy at current levels. But I've seen this happen so many times before with IQE. Cheerleaders heralding an imminent new dawn, only for some "external event" to come along and be blamed for knocking the company off course. Yet again.

I could still be tempted to add to my holding if the price dropped well below 15p. But at current levels, I'd still be too concerned I might be throwing good money after bad.

guildedge - you imply you're not invested here, yet you seem to follow the company incredibly closely - & post on it incredibly often. Can I ask whether you've held in the past and sold out subsequently? Or are you simply looking to invest, but not at the current price? Just curious to know, that's all! I realise I also post fairly frequently on here, but I am at least a holder. Albeit not a hugely happy one currently.
Posted at 13/9/2023 18:58 by guildedge
What usually happens is an equity firm will come in with an offer 30% above share price and buy out the small investors. Leaving those with 3% or more/directors as minority owners of a private company. They would then inject 100-200m required for the expansion with money set aside to buy out private shareholders. So maybe 300m deal. That is what happened to annother share i owned. Now worth over 10-15x more than they paid. Of course if it does all work maybe the share price will rise high enough where a big value share issue could be possible. If the market won't pay then a equity takeiver would make sense. Lemos will want to increase his £1m by 3-4 fold. The final 90 tools will not be cheap. New Mini factory will likely help too. Lots of interesting investments in UK motor industry right now.

If the management have faith here maybe some of the buys yesterday could of been directors. Of course we don't know what discussions are going on in background. Has much really changed from last few weeks beyond the higher volume share trades here. Many shorts would be happy to sell out below 20p if they think 15-16p was the floor. If anything yesterday showed all the bad news had already been factored into the share price

Agreed I don't see a TU till Jan now unless revenue come November is ahead or behind of expectations.

You need a lot of faith here. I wouldn't put my life savings on it but if risk averse a small investment. Not sure I have the courage for that for now. Happy to watch.
Posted at 13/9/2023 18:08 by crosswires

Definitely not risk free but yes it could retrace back to £1+ which I think would require £220m revenues and realistic profit to match. If at that point IQE were showing further potential for more revenue to come via a trend of forward guidance increases then it could go quite a bit higher than that. I don’t see a cat/snow ball in hells chance of 3x and 30% plan by 2027 but if in a parallel universe where IQE was a long time well run investment success story the share price would be several pounds if it managed the 3x & 30% plan. I don’t believe we will sink below 15p we saw briefly yesterday, but maybe IQE will take that as a challenge to make me eat my words! I don’t believe it will run out of money because there would be another raise and also I believe it would be taken over by GF for a number in or around this level if push came to shove and they decided they couldn’t exist on their own. GF are expanding rapidly and are hungry and have people in place so to speak and they know the demand over the next decades will be huge for their wares but of course a sale at 18p is not what I am hear for.

Debating whether such high share price move is possible is a bit pointless and in many ways this message board has become a bit pointless until new business comes in (or doesn’t) and the semi market stabilises. We have the same people posting the same things tens of times (i don’t absolve myself in this) which get’s us nowhere. Yesterday was a nadir of this, with some pretty pointless point scoring so my September resolution is to post less and also to filter those posters where I already know what they will say in advance.

I would expect little meaningful news between now and the late ‘23 TU nor then much before March 24. All that I hope for is there is no more negative revenue news, but frankly the bar is now set so low for 24/25 that they really should find it fairly easy to exceed estimates so there should be room to guide ahead come the time.
Posted at 13/9/2023 08:29 by lord loads of lolly
In case anyone actually still listens to Chronic Investors' tips, here's the full article behind their paywall:

"As we were warned by a series of profit warnings over the last year, it has been a difficult time for semiconductor wafer manufacturer IQE (IQE). Its compound wafers are used to make semiconductors found in smartphones, for sensing and 5G, but demand has faltered during the period under review, even though there are there some green shoots in evidence.


Today change
0.00%Price (GBP)
The problem is that its customers have built up their inventories to manage the supply chain disruptions. These inventories need to be worked through before demand for IQE’s wafers picks up again. In the six months to June, year-on-year adjusted cash profit (Ebitda) swung from a £12.3mn profit to a £5.7mn loss.

IQE is currently in consolidation mode, trying to be as efficient as possible, before the market turns in its favour. It has managed to make some yearly savings, with layoffs reducing headcount costs by 10 per cent and non-labour costs set to fall by 20 per cent. Meanwhile, it has reduced its working capital by selling off its inventory and reducing receivables, meaning it generated a £2.4mn cash from operations – despite the operating profit loss.

This has left its balance sheet in a pretty healthy position. Net debt fell to £44mn from £62mn. Meanwhile, refinancing has pushed out most of its debt more than one year away, plus it has a $35mn (£27.3m) undrawn revolving credit facility.

A return to growth is imminent, with IQE saying it expects sequential double digit revenue growth in the second half of the year. Management admits growth has returned slower than expected, but forecast it to pick up in 2024 as supply chains continue to normalise.

House broker Peel Hunt points to the acquisition of two new GaN power customers (IQE’s compound wafers are good for charging electric vehicles) plus a ‘major Chinese automotive customer’ for another part of its business (its wafers are also good at sensing things), as reasons for optimism. The broker is forecasting IQE to make £169mn in revenue by 2025, which would exceed the 2022 performance.

The company is currently trading at a discount to its book value. However, the semiconductor market is notoriously cyclical, which means the best time to buy is when things seem their worse. The improved working capital management suggests IQE is getting a hold of the operational side of the business. When things turn it will start moving upwards but patience is needed. Move to buy.

Last IC View: Hold, 34.5p, 06 Sep 2023"
Iqe share price data is direct from the London Stock Exchange

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