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MWE Mti Wireless Edge Ltd.

0.00 (0.0%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mti Wireless Edge Ltd. LSE:MWE London Ordinary Share IL0010958762 ORD ILS0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 32.00 58,346 08:00:00
Bid Price Offer Price High Price Low Price Open Price
31.00 33.00 32.00 32.00 32.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Communications Equip, Nec USD 46.27M USD 3.72M USD 0.0421 7.60 28.29M
Last Trade Time Trade Type Trade Size Trade Price Currency
12:32:09 O 25,000 32.1495 GBX

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Date Time Title Posts
04/12/202310:21*** MTI Wireless Edge ***1,425
05/8/201812:43MTI Wireless (MWE) One to Watch on Monday -
20/6/201714:18MTI WIRELESS EDGE LTD, Tech Growth Share.469
11/10/200810:02Heading down again?68

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Posted at 10/12/2023 08:20 by Mti Wireless Edge Daily Update
Mti Wireless Edge Ltd. is listed in the Communications Equip, Nec sector of the London Stock Exchange with ticker MWE. The last closing price for Mti Wireless Edge was 32p.
Mti Wireless Edge currently has 88,398,585 shares in issue. The market capitalisation of Mti Wireless Edge is £28,287,547.
Mti Wireless Edge has a price to earnings ratio (PE ratio) of 7.60.
This morning MWE shares opened at 32p
Posted at 21/11/2023 14:48 by rivaldo
Glad to see the major shareholders stepping up and buying another £110,000 or so of shres, when they already hold 43% between them.

The RNS clearly states that the shares were sold yesterday at the prevailing 31.5p mid-market share price, which it was for the first hour of trading.

Agreed Cerrito, it's not ideal - the treasury shares could have been held for longer. The perks of being directors/major shareholders I suppose, which are never going to change.
Posted at 20/11/2023 07:37 by rivaldo
Very reassuring Q3 update today, especially given the now £28m m/cap:

- EPS up 9% to 3.25c, i.e around 2.7p, with the strong Q4 still to come
- the cash pile now up to $6.4m
- Q4 is going well due to increased Govt spending in both Antennas and MTI Summit
- demand and trading is overall unaffected by the war, as are internal infrastructure, imports/exports or the 40% of the workforce outside Israel
- global demand for military antennas is strong
- Mottech is solid with a promising pipeline, whilst Summit is now profitable and has a strong pipeline

I susppct that Shore's forecast of 4.2c EPS now stands a good chance of being beaten given the 3.25c EPS to date.

And the 3.2c forecast dividend is now around a 9% yield at the current share price.
Posted at 13/11/2023 09:54 by rivaldo
Perhaps most importantly, MWE should see a benefit this year in direct trading/translation terms from the decline in the shekel against the dollar, since the rate has fallen from around 0.29 in January to the current 0.26.

At least we know that the defence-related side of the business should be doing pretty well.....

Allenby Capital have a new summary out today:

"MTI Wireless Edge Ltd* (MWE.L, 33.5p/£29.6m)
Contract win: Military spend continues (07.11.23)

• Orders secured from the Israeli Ministry of Defense worth c. $1m over 14 months for the service and maintenance of surveillance platforms via MTI's Distribution & Professional Consulting Services Division (Summit/PSK).
• The contracts reflect the increase in military-related spending by the Israeli government and the company expects to receive additional defence-related orders for its radio frequency and antenna solutions in due course.
• No change to forecasts or 90p/share fair value, equivalent to an FY24 EV/EBITDA of 13.8x.

Allenby Capital comment: MTI benefits from its diversified business model with the core underpinning of comprehensive communication and radio frequency technology. The contract announcement demonstrates that spending continues in Israel, in spite of the very challenging domestic situation, and we anticipate further spend across the three divisions (Antennas, Mottech and Summit/PSK) both domestically and overseas given medium term growth drivers - increased defence spending, water scarcity and the ongoing 5G roll out. Balance sheet also remains strong with net cash of $6.2m, equivalent to 5p/share, at H1 that is being used to fund the progressive dividend and share repurchase programme. No change to forecasts or 90p/share fair value."
Posted at 21/10/2023 16:46 by cerrito
Trying to work out the read across from the Nokia news of the last few days and the MWR antannae division. MWE of course in the interims noted the slow macro background and I note MWE emphasis on defence and India.
Posted at 17/10/2023 15:21 by gopher
Probably too early for them to put out an RNS - share buybacks provide support. share price does seem fairly irrelevant at presentN
Posted at 27/9/2023 11:17 by rivaldo
Shore Capital retain their 90p target.

They se 4.2c EPS this year, rising to 4.7c and 5.1c EPS.

The cash pile rises to $9.2m this year and then $10.5m and $11.8m, with a 5.9% dividend yield rising to 7.2%.

The cash pile is now essentially around 8.5p per share, so the current year ex-cash P/E is only just above 10.

Shore conclude:

"Outlook and valuation:

In the note that accompanied the FY22A results in March 2023 we highlighted that each of the divisions has long-term growth drivers with, in our view, Mottech
particularly well placed to potentially see stronger demand than we forecast for its water management and control software. The Antenna division is likely to benefit from the rollout of 5G across the world, as and when it happens, as MTI already supplies seven of the top ten operators with its technologies, hence we are most encouraged by today’s news. We would also expect to see continued good demand for Summit/PSK with its defence-related products and services as demonstrated by the news last month that two key PSK projects had already made significant
progress in Q3 FY23F.

We also flagged last month that, along with many stocks on AIM, the share price has drifted lower during 2023. We maintain a 90p fair value on the basis of a DCF analysis, which is corroborated by MTI achieving an FY23F EV/EBITDA multiple of 11.2x (the average of our peer group). We note also that the prospective 5.9% dividend yield for FY23F should also provide strong support."
Posted at 17/8/2023 10:04 by brucie5
rivaldo17 Aug '23 - 09:32 - 1377 of 1377
0 0 0
Allenby Capital's new note reiterates their 90p share price target.
In this market?!
I think for now shareholders will need to be satisfied by continued flow of dividends as a function of profitability and a bottoming of the share price.
That is what I'm looking for.
Posted at 17/8/2023 08:32 by rivaldo
Allenby Capital's new note reiterates their 90p share price target.

They forecast 4.28c EPS this year, with a $9.39m closing cash pile, i.e around 8.4p per share. The ex-cash P/E is therefore only 10.6 for this year.

They summarise:

"– Operational highlights:

Antennas saw new orders in military for existing product lines and requests for new solutions, across new and existing customers. MTI’s innovative ABS antenna for 5G backhaul is being evaluated by three tier one radio manufacturers and two
tier two customers. The opening of the Indian market for E-Band 5G backhaul has created a substantial multi-year opportunity, although orders remain sporadic, and MTI recently established a new local subsidiary. The Mottech division secured two longer contracts in April with an existing customer, a large Israeli municipality, worth $2.2m over five years, and fountain control also offers growth opportunities in an adjacent market.

– Outlook: MTI’s three divisions all enjoy strong medium term growth drivers – increased defence spending (Antennas and MTI Summit), water scarcity (Mottech) and the ongoing 5G roll out (Antennas). The outlook for defence is particularly strong (representing c. 44% of group H1 revenue (FY22: c. 37%)) and MTI’s design wins typically result in multi-year revenue opportunities. Forecasts remain unchanged with H2 growth expected at the top and bottom lines and the current share price fails to reflect MTI’s growth potential."
Posted at 16/8/2023 12:50 by rivaldo
Here's Simon's Thompson's tip (note the currency error for the EPS...fine apart from that):

"MTI boosted by defence spending and offers 6% yield

The technology group is set for another year of growth, but is only priced on a cash-adjusted PE ratio of 7.5 and pays a chunky dividend, too

August 15, 2023
By Simon Thompson

First-half pre-tax profit up 3 per cent to $2.1mn on slightly lower revenue of $22.4mn
Strong performance from defence sector-related activities
Second-half pipeline supports 11 per cent annual pre-tax profit growth

First-half results from Israel-based technology group MTI Wireless Edge (MWE:41p) highlight the benefits of diversification. For example, the group is benefiting from the increase in government defence budgets across the world following Russia’s invasion of Ukraine. Its antenna division trebled its operating profit to $0.28mn (£0.22mn) on revenue of $5.8mn in the six-month period, buoyed by new orders from the military sector. Chief executive Moni Borovitz expects the momentum to be maintained in the second half.

The antenna business also provides 5G network backhaul antenna systems. Although this market was relatively soft in the first half, MTI has materially increased its sales prospects by developing an automatic beam steering antenna solution that adapts to any small movements caused by different climate conditions. It is now working with three tier-one radio manufacturers and two tier-two customers to prove out the system.

The group offers investors exposure to the themes of climate change and water scarcity, too. MTI’s wireless water management systems division reported 11 per cent higher first-half operating profit of $0.96mn on slightly lower revenue of $8.7mn, the improved level of profitability reflecting price increases and the benefit of costs being in shekels in a strong dollar environment. This year’s heatwave across continental Europe, and the need for countries to use water resources more efficiently, can only be positive for sales prospects. The business has started the third quarter well.

The strength in both divisions offset weakness in MTI’s Summit electronics division, which represents 40 international suppliers of radio frequency/microwave components. Divisional operating profit declined a third to $0.78mn on 5 per cent lower revenue of $8mn, mainly due to delays with two projects. However, one has since been completed and the other is well under way, so expect a much improved second-half performance. Also, defence-related activities represent the majority of the unit’s revenue base, so increased government military spending is underpinning a strong pipeline of orders and design wins.

Earnings guidance maintained

Importantly, the directors are maintaining full-year guidance of 11 per cent growth in pre-tax profit to $4.8mn, which points to second-half pre-tax profit rising 18 per cent to $2.7mn on 13 per cent higher revenue of $26.7mn. On this basis, expect annual earnings per share (EPS) of 4.28p and a hike in the payout from 3¢ to 3.2¢ (2.5p). The dividend is rock solid, too. Net cash increased by 20 per cent to $6.25mn in the first half, and analysts at Allenby Capital expect a further rise to $9.4mn (8.35p) by the year-end, buoyed by strong cash generation.

So, with earnings guidance maintained, and the shares rated on a cash-adjusted forward price/earnings (PE) ratio of 7.5 and offering a 6.2 per cent prospective dividend yield, the share price drift since the 2022 annual results (‘A lowly rated technology group offering a prospective 5.5% yield’, 13 March 2023) is worth exploiting. Buy."
Posted at 28/7/2023 09:57 by rivaldo
With approaching 8.3p per share in cash, and around 3.3p EPS forecast this year, MWE are on a miserly ex-cash P/E of only just over 10.

Shore Capital updated after the Indian subsidiary news - FYI here's their conclusion, retaining their 90p valuation:

"Outlook and valuation:

In the March note we also highlighted that each of the divisions has growth drivers with, in our view, Mottech particularly well placed to potentially see stronger demand than we forecast for its water management and control software. Typically, the software improves the efficiency of irrigation systems, while reducing the cost of operating them. The Antenna division is likely to benefit from the rollout of 5G across the world as it already supplies seven of the top ten operators with its technologies. Today’s news of the establishment of its Indian subsidiary positions it particularly well in the Indian market, in our view. Summit/PSK had a strong FY22A and we would also expect to see continued good demand for its defence-related products and services as demonstrated by the recent contract win.

The share price has drifted lower since the release of the Q1 results in May. Ahead of Q2/H1 FY23F results in mid-August, we maintain a 90p fair value on the basis of a DCF analysis, which is corroborated by MTI achieving an FY23F EV/EBITDA multiple of 11.2x (the average of our peer group)."
Mti Wireless Edge share price data is direct from the London Stock Exchange

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