Any ideas why price has decreased so dramatically recently?

Shorters at work - pure and simple! Today's rise would indicate that they are now closing their positions for the time being. IMG remains a good long term bet for true investors.
Pond Life

Thanks for confirming that Pond Life - I will hold this for now

Does anyone have any more news on IMG.. it seems to have been quite for a while now after they have delivered on their business plan.

Got in today @ 67.50. It's a good medium/long term prospects. Will dig up info and post.

Yes please azhar--I have sat on these for ages after tipsters talked them up!!

Just checked. Bought and sold these shares since 1996. Overall made a profit. Now holding last smaller holidng at a loss, but expect them to deliver. One of the problems with this company over the years they have raise hopes to often and not provided the "goods". I think that the information released recently is good, but i have been here before. Still think I will be in profit, but when I don't know. But I do know I am getting fed up!!!

Just reviewed the map of IMG. with a little bid of imagination there seems to be an overall uptrend since August and with a break above 75p I might feel a little happiness. But volumes and momentum don't give me any real enthusiasm. Wouldn't buy and i won't sell it yet.

I've been in and out of these since before their dreamcast days of the 4.40/share to my advantage, for a change..lol....at the moment think they are worth trading short term in the 65p-75p area....i agree with Fred tho and a break above 75/76p would be great..

dangers also if they fall below 60. went in these not long ago @67+ and out @ 66. will stay out until the 75+ is broken.

Did you ever get back to these azhar?? and IBB??

Sold my last lot of these -- not looking good, showing losses and poss. cashcall.

dikytree.

Excellant AGM statement yesterday with increasing sales and royalites. The chart seems to have bottomed out and a nice jump yesterday. I picked some up last week and can see them doubling from here on some more good news IMHO. Will watch over the next few weeks of so to see if I should get some more.

Still holding IMG. Looks like a reverse head and shoulders on the chart. Still hopeful these will come good (one day)

Optimist.

Tks Dil, looking forward to next Thursdays results, still the optimist! :o)

:-)

sutherlh1, IMG has had good days but so far they have never add up to a week.

IMG beginning to gather a few reasonable days together. The chart appears to have changed character and appears to have broken out of it's downtrend. Expectations for tomorrow's update are very low, so any good news should give it a boost

More 'jam tomorrow' coming out off the interim results. Turnover down, losses up but plenty of potential deals. Despite a few large sells and sells five times greater than buys sp still going up. Looks like the MMs want stock at the moment. I will continue to hold.

SP is creeping up despite sells outnumbering buys by over 8 to 1. Also share activity is much higher than normal and unknown trades outnumber sells. Don't quite understand this. Has anyone any info or ideas on IMG and whether they are worth holding? thanks

Yep .... pile of sh*te imo but hey I woud say that cos I been "deramping" them since 180p.

Regards

guys watch this video link

http://www.foxnews.com/story/0,2933,173728,00.html

watch the video... amazing

may relieve the stress

click on second life

Why ?

What has it got to do with these ?

or it might increase your stress (it did me) i know the best way to relieve stress and that is NOT it. right where's them mags.

Some big buys (some > 1,000,000) in IMG today, especially at the end of the day. Buys are now over 10 times sells and I believe with all this activity that this share is going to head further north in the next few weeks.

Any chartist views out there on where IMG may be going next? Appreciate any views, H

IMG up nicely today, I fancy it at over a pound early next year. H

hi sutherlth here,s HOPING/////

IMG chart starting to look ready for a big rise. Beginning to head up. I still think this will be over a quid in the not too distant future H

IMG looking very interesting now. It has just completed a reverse head and shoulders (see above) which is targetting around 110p per share. Some big buys today. Here's hoping, H

My earlier reverse head and shoulders turned into a real head and shoulders predicting 50p which has been reached. Now it looking really positive heading for my target of around 110p.. H

110p should be achieved easily. However, I expect IMG to go SIGNIFICANTLY higher over the next 12 months. Not only will sales of mobile phones using IMG video technologies rise exponentially, Sales of DAB radios (80% of ALL radios use IMG tech) will escalate in UK and rest of world. Frontier Silicon (10% owned by IMG) will float, and, IMG will partially float their Pure Digital brand. All this and LOTS more makes IMG a very strong buy!

Nice increase today on the back of the Intel announcement. Looks like there is more to come. H

...And on the back of today's Texas Instruments announcement. Getting IMG inside OMAP 3 mobile phone processors will provide massive revenue.

Arm Developers conference starts tomorrow (IMG are attending) so we may get further announcements.

Got out of my IMG shares @124p having truely surpassed my target of 115p. Now wondering if i have done the right thing. They are still in an uptrend although they could be forming a double top at the moment. Anyone else any views on IMG, thanks H

Sell IMG at 60p...support level cracked beneath its feet.

Up [72p],on good news (Apple?)has taken a 10% stake -DYOR_ yet in reality this is to secure their supply and maybe squeeze out any competitor. Just look at the PE - Yikes! this business is not generating cash, IMHO. I've held a few for years, but it's not going anywhere, until their name is on the retail product ( er, like "Dolby"). To that end they need to find a "name" that can achieve this. . . . their long name is far too cumbersome.

Todays results out

Adjusted pre-tax profit* jumps 166% to 13.3m; annual chip unit volume up 47% to 126m





Imagination Technologies Group plc (LSE: IMG, "Imagination", "the Group"), a leading multimedia, communications and embedded processor technology company, today announces results for the 12 months to 30 April 2010.



Financial highlights



Group revenue up 26% to 80.9m (2009: 64.1m)

o Technology revenues increased 28% to 47.3m (2009: 36.9m)

Royalty revenue up 75%

Licensing revenue level maintained in a cautious economic environment

o PURE revenues increased 23% to 33.6m (2009: 27.2m)

International revenue up 35% to 7.8m (2009: 5.8m)

Adjusted Group operating profit* up 171% to 13.3m (2009: 4.9m)

o Technology - adjusted operating profit* up 78% to 13.6m (2009: 7.6m)

o PURE - adjusted operating loss** reduced by 90% to 0.3m (2009: loss 2.7m)

Adjusted Group pre-tax profit* up 166% to 13.3m (2009: 5.0m)

Group pre-tax profit 10.2m (2009: 2.7m)

Adjusted earnings per share jumped 55% to 7.3p (2009: 4.7p)

Cash balance doubled to 29.4m at 30 April 2010 (2009: 14.6m)

From Sharecast

Graphics chip designer Imagination Technologies predicts the number of devices sold that use its chips could quadruple over the next few years as it rode the boom in smart mobile phones and tablet computers to post record results. Revenues for the year to April 2010 rose 26% to 80.9m (2009: 64.1m). Pre-tax profits soared to 10.2m from 2.7m. The number of partner chips shipped last year rose by 47% to 126m units, but its aiming for 500m units annually over the next few years.

My comments are if it can achieve its target of 500m units the company could be a become take over target?

IMG (imagination technologies)

Imagination Technologies initiated as conviction buy at Goldman Sachs, TP 515p.

I think results are next week. Looking very strong this morning.

IMG (imagination tech) looking very bullish is the chart. 3 bullish hammers in the new uptrend and MACD passing through its trigger line with RSI at a favourable level. Looks to be plenty of upside technically supporting the Brokers 500p SP target today.

Thanks for the heads up GF, joined you (SB) @ 389.0 (50 DMA) initial target 420.0. Interim results week on tuesday 14th.

Imagination to license chips to telecoms

- http://www.ft.com/cms/s/2/ef8a3cc6-0708-11e0-94f1-00144feabdc0.html#axzz1849GKJnN



Please respect FT.com's ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article - http://www.ft.com/cms/s/2/ef8a3cc6-0708-11e0-94f1-00144feabdc0.html#ixzz184U017o3


Imagination to license chips to telecoms
By Mary Watkins, Technology Correspondent

Published: December 14 2010 04:34 | Last updated: December 14 2010 04:34

Imagination Technologies will start licensing its chip designs directly to telecoms groups for the first time as it seeks to take advantage of the rapid shift towards video and voice telephony services on the internet.

Hossein Yassaie, chief executive, said that phone carriers and handset operators were increasingly looking to offer their own homegrown versions of video and voice over internet protocol (VoIP) services as an alternative to market leader Skype.

EDITORS CHOICE
ASML orders on course to top 2bn - Dec-10.Display panel cartel fined 649m - Dec-08.US tech leaders raise the stakes on pay - Nov-25.Inside Technology: Solar dimmed - Nov-10.Chips demand lifts Wolfson sales by 33% - Nov-05.Lex: Semiconductor makers - Oct-21..The whole world is going to VoIP and there will be a variety of ways that people get media over the internet. Skype will be one but there will be others, he said.

The vast majority of Imaginations chip designs are licensed to semiconductor companies such as Intel and Samsung. By licensing its designs directly to telecoms groups rather than through a chip manufacturer, Imagination aims to widen its customer base.

Phone operators were initially resistant to allowing customers to make calls using internet telephony services offered by companies such as Skype because they thought the free or lower-cost calls would cannibalise revenues. However, as voice and web services have increasingly converged, operators are now pursuing their own VoIP strategies.

A number of telecoms groups have signed deals to allow customers to use video and VoIP services offered by Skype, which last year became the leading carrier of international calls and is expected to list on Nasdaq next year.

However, telecoms and technology groups are looking to compete with Skype. Google recently unveiled a service that will allow Gmail users to call landlines and mobiles from their inbox.

Imagination, whose graphics chip designs are used in Apples iPad, last month acquired US-based HelloSoft for up to $47m (30m) to assist its push into video and VoIP as well as expand its WiFi offering.

HelloSofts technology will help Imagination offer chip designs that will improve the speed with which video, audio, voice and graphics can be delivered to internet-connected devices.

Mr Yassaie said that over the next few years high performance connectivity would become increasingly important to people using tablets, smartphones, internet-connected televisions and radios, and PCs. But he said one of the key challenges would be migrating fragmented networks from circuit switching to iternet protocol-based devices.

Imagination, which has a market capitalisation of just under 1bn, is considered a leader in graphics chips and also created the Pure radio brand. The company, shares in which have risen about 50 per cent this year, counts Apple and Intel among its shareholders.

The Hertfordshire-based group publishes its half-year results on Tuesday. It is expected to exceed its target of shipping 200m chips for the full year.
.Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

DJ Imagination Technologies 1H Rev GBP44.1M
LONDON (Dow Jones)--U.K. chip designer Imagination Technologies Group PLC (IMG.LN) said Tuesday it is confident of beating its previous full-year shipping target, as it posted almost doubled pretax profit for the first half.

The company also announced the $27 million acquisition of Caustic Graphics Inc., a 3D graphics technology firm.

Imagination, which licenses its chips to companies including shareholders Intel Corp. (INTC) and Apple Inc. (AAPL), said it is on course to exceed its long-term target for its customers to ship 200 million units containing its technology in fiscal 2011.

Profit before tax for the half year to Oct. 31 rose to GBP7.7 million from GBP3.9 million a year earlier. Revenue climbed to GBP44.1 million from GBP38.2 million as strong growth in chip royalties and licensing revenue more than offset a decline in the firm's Pure digital radio business.

Imagination said the acquisition of Caustic--which comes soon after its $47 million deal to buy video and voice-over-Internet company HelloSoft in Novemember--will help keep the company at the forefront of graphics technology.

-By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com

Order free Annual Report for Imagination Group plc

Visit http://djnweurope.ar.wilink.com/?ticker=GB0009303123 or call +44 (0)208 391 6028

Order free Annual Report for Apple Inc.

Visit http://djnweurope.ar.wilink.com/?ticker=US0378331005 or call +44 (0)208 391 6028


(END) Dow Jones Newswires

December 14, 2010 02:26 ET (07:26 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.

15-Dec-10. Imagination Technologies Group. IMG. Evolution Securities. Neutral 379.90p 515.00p - Upgrade

Todays Telegraph we get a mention....

http://www.telegraph.co.uk/finance/newsbysector/epic/arm/8242454/CES-Leather-trousers-geeks-and-British-brains.html

From the Telegraph report.......

The current big thing is tablet computers. If you smash open one of the Apple iPads that millions of people received this Christmas youll find a handful of ARM-designed chips, as well as some from Imagination Technologies, a fellow British technology group that powers Apples graphics

Investtech bullish on IMG

Heres the summary this morning.......

Positive Candidate -Medium term, Jan 5, 2011 Analysis Explanation

IMAGINATION TECHNOLOGIES GROUP shows a strong development within a rising trend channel. A further positive development is indicated, and there is support against the floor of the trend channel. Has also broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock has support at pence 277 and resistance at pence 440. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock in the short term. RSI diverges negatively against the price, which indicates a danger for a reaction down. The RSI curve shows a falling trend, which is an early signal for a possible trend break down. The stock is overall assessed as technically positive for the medium long term.



Period Vol.bal. Volatility Liquidity +/- %
1 day - 2.35% 221.83 +4.35%
5 days 87.38 8.50% 119.34 +5.00%
22 days 21.65 22.25% 206.77 +3.05%
66 days -9.50 43.47% 198.36 +2.53%

interesting post by Zak Mir Pro Taer yesterday..

Zak Mir



Reged: 28/06/07
Posts: 1509
Re: IMAGINATION TECHNOLOGIES (IMG)
#474263 - 06/01/11 11:36 AM Edit Reply Quote



Any weakness back towards the 50 day ma zone of 376p should be an opportunity to get into IMG for a retest of last month's best levels through 440p. ENDS

Just about at the SP, look out for buyers.

Talking of historical SP targets lets not forget this........

Imagination Technologies bounced by 6.1 per cent to 399p after Goldman Sachs started coverage of the graphics chip designer with buy advice. A recent pullback in the shares had factored in market share risks but understates Imaginations strategic position to grow from demand for tablets and smartphones, Goldman said. The broker set a 515p target price, partly based on the chances of a bid from a chipmaker

HI GOLDFINGER/////LOOK at shareholders on the sharelist of this company and then explain to us why they would or could be taken over ???I DON0T THINK THERE A CHANCE in hell JUST MY THOUGHT OF COURSE/

I have followed IMG for years and hold a few IMG SBs, with reasonable SLs, but there are less optimistic forecasts for IMG.

At 2013 forecast EPS the PE is over 20 and with IMG former history ummmmm.

I dont think the company has ever paid a div.

Looking at the chart, there seems to be a Triangle formation formed with attempt to break out upwards, but dont think it is worth my life savings.

----------------------------------------------------------Old T/P-----New/T/P
04-Jan-11---- Canaccord Genuity Hold------- 372.30p--- 360.00p---- DownGrade
23-Dec-10 ---Canaccord Genuity Hold---------370.00p----360.00p--- DownGrade

15-Dec-10----Evolution Securities Neutral----380.00p----515.00p--- Upgrade

14-Dec-10----Panmure Gordon Buy-------------380.00p----330.00p---Reiteration

14-Dec-10---Numis Securities Reduce----------380.00p ----Reiteration

10-Dec-10---Seymour Pierce Sell---------------- 363.90p-----230.00p - Reiteration

However, with the ARM deal and if IMG chips are used, my depression may be resolved.

Run out of patience with this one so got out with today's rise, seems to be to much technical noise written about them for my liking. Good luck all still in.

UMMMMH or UGGGGGH

Bit of both I think -):

Imagination Technologies Group ST: the upside prevails as long as 354.25 is support
11 Jan 2011 - 08:54

Click here to see our chart:
http://www.tradingcentral.com/chart/IMGGBp110111095217.gif
Our pivot point is at 354.25.
Our preference: the upside prevails as long as 354.25 is support.
Alternative scenario: below 354.25, expect 329 and 313.5.
Comment: the RSI is above 50. The MACD is above its signal line and positive.
The configuration is positive. Moreover, the stock is above its 20 and 50 day
MA (standing respectively at 373.71 and 373.13).
Supports and resistances:
441.5 *
426 **
410.75
378.6 last
364
354.25 **
329 *
---
TRADING CENTRAL is a commentary service specialising in technical analysis.
For sales enquiries please call your Reuters account manager or TRADING
Central
by phone: New York (1) 212 812 2400 Ext 29, London +44 (0) 207 429 3980 or
Paris (+33) 1 5528 8040
or e-mail: sales@tradingcentral.com.

Imagination Technologies Group
Buy/Neutral 600
48.6% Goldman Sachs

600P price target. And from Goldmans. Wow that takes some doing.

48% upside.

Up nearly 17% on today's news.

http://www.telegraph.co.uk/finance/markets/marketreport/8326735/Imagination-surges-up-as-Micro-Focus-melts.html

Brokers backing IMG..... could be another ARM. Gone back in long.

Imagination Technologies Group PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Evolution Securities Ltd
03-03-11 BUY 28.50 12.30 42.50 15.10
Peel Hunt
01-03-11 HOLD 19.70 5.56 28.68 7.93
Panmure Gordon
24-02-11 BUY 31.60 9.29 45.20 13.40

Imagination Technologies Group PLC Latest Broker forecasts from Hemscott premium

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)


Peel Hunt
03-03-11 HOLD 19.70 5.56 28.68 7.93
Evolution Securities Ltd
03-03-11 BUY 28.50 12.30 42.50 15.10
Panmure Gordon
24-02-11 BUY 31.60 9.29 45.20 13.40

IMG buy note( #ADVFN $IMG http://t.co/6CBn6SS

http://t.co/6CBn6SS

Apple to ship new iPhone in September: sources .......

http://t.co/TjBq8Oo

Todays press release

http://www.imgtec.com/News/Release/index.asp?NewsID=631

SP now above 500p will it hold?

02 June 2011

Imagination brings long standing experience to successfully deliver DirectX for next generation Windows for SoCs


Imagination Technologies, a leading multimedia and communications technologies company, is delivering graphics and video IP cores supporting the newest versions of Microsoft DirectX across x86 and ARM based SoCs (Systems on Chip) for the next version of Windows as well as on x86 Windows 7 PCs.

As the Windows platform drives the convergence of desktop and consumer appliances, Imagination has seen growing demand for DirectX capabilities and its market proven DirectX compatible POWERVR graphics and video hardware IP (Intellectual Property) cores, which form a fundamental enabling technology for that convergence process.

Building on Imagination's long and proven track record in the delivery of Windows Hardware Quality Labs (WHQL) production-ready software drivers, the company says that, as the demand for support of Microsoft DirectX multimedia services and APIs broadens across more markets, the ability to properly support DirectX is key, and Imagination is one of the only technology IP companies with direct experience of doing so.

Says Imaginations VP marketing, Tony King-Smith: We rarely stand up and shout about our skills, but in this case we think its important to highlight that Imagination is one of very few companies that has the experience of delivering DirectX for SoCs. DirectX is a sophisticated and advanced API which embraces a broad array of graphics, video and multimedia management functions and experience is vital to delivering the best in class DirectX solution that enables the best possible compatibility across all forms of DirectX content. Weve spent more than 15 years honing our ability to deliver best in class DirectX for our graphics and video IP cores and it is the rigour of overcoming such challenges that has made Imagination one of the worlds leading suppliers of DirectX solutions.

Imagination Partners and DirectX

Multiple licensees of Imaginations graphics or video technologies, including Intel and Texas Instruments, will be able to support full DirectX for the next version of Windows across both x86 and ARM as well as for x86-based systems with Windows 7.

Intel has already deployed highly successful Windows-based X86 devices such as the Atom Z5xx family incorporating POWERVR video and graphics into the DirectX market, with more in plan.

TI will deploy POWERVR graphics technology in future OMAP platform-based SoC designs targeting the mobile computing and tablet markets across key operating systems such as the next version of Windows.

Deepu Talla, general manager, OMAP mobile computing business unit, TI says: The OMAP platform is redefining mobile experiences through unparalleled user experiences centered on high-performing, highly power-efficient devices. TI continues to work with Imagination to optimize its complementary, market-leading POWERVR cores first within the OMAP4470 applications processor to support this transformative momentum. The result is the delivery of marked graphics advancements, including DirectX and more, that will underscore next generation UIs.

Graphics IP cores

Imagination has shipped graphics cores supporting DirectX for 15 years.

Imagination currently ships a wide range of cores supporting DirectX including the latest POWERVR SGX544, SGX544MPx, SGX554 and SGX554MPx which all provide full support for DirectX 9 Feature Level 3 with maximum hardware acceleration, making them ideal for tablets and other mobile computing devices.

POWERVR SGX544 and SGX554 can be implemented as high-performance single core solutions (4 or 8 pipelines respectively), or in multiprocessor (MP) configurations of between 2 and 16 cores (4 to 128 pipes.)

Cores in the POWERVR Series6 family, which is codenamed Rogue, support from DirectX 10 up to DirectX 11.

Video IP cores

Imagination supports the full range of DirectX video features and has shipped DirectX video cores for over seven years.

Imaginations POWERVR VXD video decoders and POWERVR VXE video encoders deliver multi-stream, multi-standard, HD decode and/or encode, supporting all major video standards.

All VXD and VXE cores support all the major video standards including H.264 (Base to High profile), MPEG4, MPEG2, VC-1/WMV, AVS, Sorenson and JPEG. Many VXD cores now also offer hardware rotation and scaling, delivering significant reductions in bandwidth and power consumption. When combined with SGX cores, scaling can also be done by the SGX core, making the combination of VXD, VXE and SGX extremely powerful for a wide range of multimedia applications.

About Imagination Technologies

Imagination Technologies Group plc (LSE:IMG) a global leader in multimedia and communication technologies creates and licenses market-leading multimedia IP cores for graphics, video, and display processing, multi-threaded embedded processing/DSP cores and multi-standard communications and connectivity processors. These silicon intellectual property (IP) solutions for systems-on-chip (SoC) are complemented by platform level IP and services, a strong array of software tools and drivers and extensive developer and middleware ecosystems. Target markets include mobile phone, handheld multimedia, home consumer entertainment, mobile and low-power computing, and in-car electronics. Its licensees include many of the leading semiconductor and consumer electronics companies. Imagination has corporate headquarters in the United Kingdom, with sales and R&D offices worldwide. See: www.imgtec.com.





If you have any enquiries regarding any of our news or press release items, please contact:

Director of PR
David Harold
David.Harold@imgtec.com Tel: +44 (0)1923 260511

Looking better today at 315 290 would be a good entry point for me.

Technically we have a Bullish Inverse head and shoulder pattern developing on the IMG chart as below........

Wow that is one powerfull statement....

very bullish.

http://www.investegate.co.uk/Article.aspx?id=201109080700098424N

Latest Broker Buys and expect these to be upgraded in the next few days....

Date Broker name New Price Old price target New price target Broker change

19-Aug-11 Numis Securities Buy 302.10p 400.00p - Upgrade
12-Aug-11 Peel Hunt Limited Buy 334.60p 460.00p - Reiteration
10-Aug-11 Evolution Securities Neutral 315.80p 350.00p - Upgrade
05-Aug-11 Royal Bank of Scotland Hold 326.70p 410.00p - Reiteration

Gone long of IMG, Nice uptrend channel in place first SP target resistance at 500p

Sorry gf but the buy signal was around 380p imo and anything above 490p is worth a quick short imo but I know nothing .

The Market likes this today alright http://www.moneyam.com/action/news/showArticle?id=4275276

Up nearly 13% so far!

One of the few Companies on the SM that I buy anything from, not a bad chart either.

PE is 60+ - Nuf said.

PE is 80.71 - ARM PE is 67.80!

Not quite hangon, Haven't you heard of stop lose settings?

Market like's todays Man. Statement, up 7% so far.
http://www.moneyam.com/action/news/showArticle?id=4324819

Imagination Technologies' full-year profits rise 53%

Imagination Technologies, the British company behind the graphics for the iPad and iPhone, has posted a 53% rise in full-year profits.

Imagination made £36.8m ($57.7m) in adjusted pre-tax profits on revenues up 30% to £127.5m for the year to 30 April, the company said.

The number of graphics and video technology computer chips shipped rose by a third to 325 million.

Imagination also makes the "Pure" brand of digital radios.

You long of IMG Skinny?.

GF - unfortunately not! I have been watching it, but didn't act.

Imagination Technologies was another big gainer after yesterday having announced that it saw notable increases in both royalty and licensing revenues last year, which led to better than anticipated profits. At least four brokers have raised their price target on its shares, including JP Morgan Cazenove and Goldman Sachs . In fact, analysts at these two banks have practically doubled their price targets. Liberum Capital was the exception, it has decided to reiterate its sell recommendation on the firm´s shares

Broker Updates this morning.

21 Jun Imagination... IMG Exane BNP Paribas Outperform 478.20 750.00 750.00 Reiterates 750p SP target.

21 Jun Imagination... IMG Numis Buy 478.20 550.00 590.00 Upgrades

590p SP Target.

Yes - to use a technical term - bugger!

http://www.moneyam.com/action/news/showArticle?id=4444058 Down nearly 9% at the moment.

Brokers with Buy recos looks
encouraging......

Imagination Technologies Group PLC

FORECASTS 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Exane BNP Paribas
19-09-12 BUY 36.00 10.46 63.00 17.61
Singer Capital Markets Ltd
14-09-12 BUY 39.20 11.10 56.20 15.60
Canaccord Genuity Ltd
13-09-12 HOLD 14.40 17.00
Peel Hunt
11-09-12 BUY 46.13 12.52 58.90 16.20
Westhouse Securities
23-08-12 BUY
Numis Securities Ltd
21-06-12 BUY 14.60 21.10
Seymour Pierce [R]
01-05-12 UREV 38.40 11.00 54.00 15.40

2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 41.81 12.41 58.88 16.83
1 Month Change -1.45 0.13 -0.83 -0.04
3 Month Change -1.45 -0.39 0.65 -0.39


GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 1.10% 65.88% 35.62%
DPS % % %

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £33.50m £46.39m £64.69m
EBIT £27.69m £41.06m £62.96m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER 68.37x 41.22x 30.39x
PEG 62.04f 0.63f 0.85f
Net Asset Value PS 47.40p 80.84p 101.16p

IMAGINATION TECHNOLOGIES IMG

Lets put some prices to them
Brokers with Buy notes.

SP targets range from 695p to 750p.

Date Company Name Broker Rec. Price Old target price New target price Notes

14 Sep Imagination... Peel Hunt Buy 524.00 730.00 730.00 Reiterates
14 Sep Imagination... Jefferies International Buy 524.00 724.00 724.00 Retains
13 Sep Imagination... Exane BNP Paribas Outperform 524.00 750.00 750.00 Reiterates
13 Sep Imagination... Investec Buy 524.00 695.00 695.00 Retains

NORWICH & PETERBOROUGH BUILDING SOCIETY

Added another chunk. The lauch of that metal thingy today should boost sentiment for this stock.

http://www.independent.co.uk/news/people/profiles/hossein-yassaie-meet-the-man-with-the-big-imagination-8160782.html

Few FTSE 100 bosses will be keener than Hossein Yassaie to follow today's launch of Apple's iPhone5 as it goes on sale in stores in America, Britain and seven other countries. As chief executive of Imagination Technologies, Mr Yassaie has played an integral role in the development of the iPhone, as his company designs the graphic-processor units that help to drive the dynamic display on the screen. And if iPhone5 turns out to be a record-breaker, as expected, Imagination will benefit in royalty revenues.

Just don't expect the self-effacing, Iranian-born boss of Imagination to talk about it. Over a relaxed lunch in a central London hotel, he politely bats away questions about Apple, his most celebrated client. He won't even discuss whether he ever met Steve Jobs, although he concedes he enjoyed reading Walter Issacson's biography of the late Apple founder.

As Imagination's chief executive for 14 years, Mr Yassaie knows it pays to be discreet, especially when Apple is one of its biggest shareholders, with a stake of almost 9 per cent.

The fact that virtually all his clients demand discretion may be one of the reasons why Imagination isn't as well known as it should be. Yet this FTSE 250-listed company, with ambitions to join the FTSE 100 in the next few years, is a rare British technology success story.

Revenues rose 30 per cent to £127m last year as Imagination saw an increase in royalties from its chip and graphic designs, with pre-tax profits jumping 74 per cent to £28.5m.

Mr Yassaie is convinced the best is yet to come, especially as graphic-processing technology improves. "There is no limit," he says. "We still haven't got to the point where graphics look like reality."

There are so many other opportunities as "the internet of things" becomes a reality, he explains. Virtually everything in our lives – from the TV set to the car, from central heating to healthcare – is becoming "smart" and connected to the mobile web.

Imagination also owns the digital radio business Pure, which sells sets directly to consumers and gives another insight into our changing behaviour.

Mr Yassaie says his aim for Imagination to enter the FTSE 100 – it is currently about 130th in size – is achievable. Key to that is his ambitious target of one billion in annual shipments of its chip and graphic technology by 2016.

Growth depends in part on the wider macro-environment and Mr Yassaie certainly feels that Britain and, importantly, the Government, doesn't rate our tech industry as much as it should. "Not everyone gets super- excited about electronics," he says. "We want people to get involved like they are in art, music and acting. It would be good to have the same thing around technology.

"Most people wouldn't realise the huge number of companies that are shipping products with British technology – it's good to make that known," he adds, referring not only to Imagination but other companies such as FTSE 100 chip designer Arm.

For Mr Yassaie, government can help both in terms of the economy and the wider eco-system. "I'm a great believer in reducing the deficit," he says. "But I would certainly expect that once the recession is under control that there is more needed from the Government. Within the constraints that they have, they're doing quite a lot, but I'll always be asking for more." Taper tax relief for staff who hold shares in Imagination for the long term is top of his wish list.

Britain should also do much more to encourage young people to study computer science and electronics. Imagination, based in Kings Langley in Hertfordshire, looks to hire at least 100 graduate trainees a year so he wants UK universities to do more to produce world-class talent. "These guys need to be the best in the industry," says Mr Yassaie, whose company employs more than 1,200 in offices including Bristol, Cheps ...Read Full Message More View thread 1

Good link that G/F thanks, have printed it off and will read later.

IMG Imagination Technologies

Broker brief.....

21 Sep Imagination... IMG Exane BNP Paribas Outperform 533.00 511.50 750.00 750.00 Reiterates

750p SP Target.

Wonder if this is still on??.
Missed it on that date.

Imagination Technologies Ltd (IMG)Sep 08, 2012Analyst Comment by KBC Peel Hunt

Keep an eye on shares in Edinburgh based chip maker Wolfson Microelectronics this week after Peel Hunt analysts Alexandra Jarvis and Paul Morland predicted that "brutal" competition within the electronics sector could lead to further consolidation and tipped Samsung to buy Wolfson and Apple to buy Imagination Technologies. Wolfson’s shares rebounded last week following a dip when Samsung, one of its biggest customers, lost a patent battle with Apple in California.

Possibly I suppose and Apple have plenty £s in hand as we know, but my record of predicting takeovers is well, shall we say.. worst then useless -): so anything I may say on this thread about takeovers from now on must be taken with a lorry load of salt!

A bargain 350p.

Another case of sell on the news perhaps? News being the Trading Update.

I soooo hate this pile of shite

You got some of these then Dil?

Shopping alert http://www.moneyam.com/action/news/showArticle?id=4478503

Nice word - 'Accretive".

Yes Skinny there very innovational down at Imagination these days -):

From post 95, I'd say Dil is very 'innovational' about these! :-)

Yeah, strange comment that , maybe he's lost money on them in the past.

I like it.

IMG to buy the mips business and 82 of the 580 patent properties for approx $60m.

the remaining 498 patents to be bought by a consortium (which includes ARM) for approx $350m, which will happen before mips is acquired by img.

so IMG will buy $350m in cash and the mips business for a cost of $60m.

basically MIPS will be carved up to provide some much-needed consolidation in the marketplace and more importantly eliminate the spectre of patent litigation a-la samsung/apple.

plus all the rest of the RNS which can be read in the usual manner

BRIEF-Imagination Tech buys op business of MIPS Technologies06 Nov 2012 - 07:12

LONDON, Nov 6 (Reuters) - Imagination Technologies Group PLC : * Tech.plc - acquisition * Imagination buys mips technologies inc * For a cash consideration of US$60 million * Buys operating business,82 key patent properties and license rights for 498 mips' patent properties * Confident the acquisition will accelerate our growth in the substantial cpu ip market across many segments ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [IMG.L]))

MIPS Technologies Agrees to Sale of Patent Properties to AST and Acquisition by Imagination Technologies


SUNNYVALE, Calif., Nov. 6, 2012 (GLOBE NEWSWIRE) -- MIPS Technologies, Inc. (Nasdaq:MIPS), a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications, today announced it has entered into separate definitive agreements with Bridge Crossing LLC ("Bridge Crossing"), an acquisition vehicle of Allied Security Trust ("AST"), and Imagination Technologies Group plc (LSE:IMG) ("Imagination") with net proceeds of approximately $7.31 per share in cash to each holder of MIPS common stock. The total value of the transaction represents a 40% premium to the closing price on April 11, 2012, the day prior to the first public rumor of a potential sale of MIPS.

Bridge Crossing will acquire 498 of MIPS' total 580 patent assets for gross proceeds of $350 million. MIPS will retain the remaining 82 patent properties that are directly relevant and key to the MIPS architecture, and will also be granted a royalty-free, perpetual license under all of the patent properties sold to Bridge Crossing. MIPS will also provide a restricted license to Bridge Crossing under the 82 retained patent properties. Subject to consummation of the Bridge Crossing transaction, Imagination will acquire the operating business of MIPS, the 82 aforementioned patent properties, and license rights to all of the remaining patent properties of MIPS for $60 million.

Both transactions are subject to customary closing conditions, including the approval of MIPS' shareholders, who will vote separately on each of the transactions. Approval of the Bridge Crossing transaction is not subject to shareholder approval of the Imagination acquisition. The proceeds of the transactions, which are subject to a holdback of approximately $100 million to cover tax and other liabilities, will be distributed to MIPS shareholders on a pro-rata basis through a recapitalization of MIPS common stock.

"After a thorough review of a wide range of alternatives to enhance shareholder value, our Board of Directors concluded that the best alternative for the Company would be the sale of patent properties to a consortium formed by AST, and a sale of the Company to Imagination. Importantly, as part of Imagination, the MIPS architecture will continue to be supported, and protected by MIPS patents. This highly successful outcome builds upon the rich heritage of the MIPS processor architecture, while effectively monetizing the Company's valuable patent portfolio," said Sandeep Vij, CEO of MIPS.

Mr. Vij continued, "By combining the technologies and skills of MIPS and Imagination, a leading multimedia, communications and embedded processor technology company, we believe that we can together create a powerful, well-differentiated and highly influential alternative to existing CPUs in the market. The move is highly strategic and presents clear benefits to MIPS' customers, employees, and partners."

According to Hossein Yassaie, CEO, Imagination Technologies, "The MIPS architecture is widely respected, and is complementary to Imagination's existing CPU capabilities. I believe that this proposed transaction will be welcomed by both companies' customers, including our mutual partners, and by the electronics industry at large. Post deal closure, Imagination will continue to support and expand the MIPS architecture and ecosystem, with the combined effort aiming to create a new industry-leading force in CPU development and licensing."

The sale of the MIPS patent properties has been unanimously approved by the Board of Directors of MIPS and by the CEO of Bridge Crossing, and is subject to customary closing conditions, including the approval of MIPS' shareholders, voting separately from approval of the sale of the Company to Imagination, and not conditioned on the approval or consummation of that sale. The subsequent sale of the Company has been unanimously approved by the Boards of Directors of MIPS and Imagination, and is subject to customary closing conditions, including the separate approval of MIPS' shareholders and consummation of the Bridge Crossing patent property sale. Neither transaction is subject to any financing condition. Bridge Crossing has deposited the full amount of the purchase price into an escrow account to fund the patent property sale transaction. MIPS anticipates that the transactions will close within Q1 CY2013.

J.P. Morgan is acting as exclusive financial advisor; Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor; and Ocean Tomo is acting as intellectual property advisor to MIPS. Fenwick & West LLP and Morrison & Foerster LLC are acting as legal advisors to AST. Jefferies is acting as exclusive financial advisor, and DLA Piper LLP is acting as legal advisor to Imagination.

To read Imagination's press announcement about the proposed acquisition, issued separately today by Imagination, please visit http://www.imgtec.com/corporate/newsdetail.asp?NewsID=700.

http://www.nasdaq.com/article/mips-technologies-agrees-to-sale-of-patent-properties-to-ast-and-acquisition-by-imagination-technol-20121106-00030

UPDATE................

UPDATE 1-Imagination Tech buys MIPS for $60 mln
06 Nov 2012 - 08:59

* Deals secures future of MIPS microprocessor technology * Imagaintion gains operatings business, some key patents * Further 498 patents sold to industry consortium (Adds details) LONDON, Nov 6 (Reuters) - Imagination Technologies has agreed to buy the operating business of MIPS Technologies for $60 million in a deal that secures the microprocessor pioneer's future as a competitor to chips based on ARM's designs. Imagination, a British specialist in graphics and video technology, said on Tuesday it would gain 160 engineers and 82 MIPS patents in the deal. It will also get a license for a further 498 patents that are being sold to a consortium of technology companies, including ARM, for $350 million. MIPS, originally an acronym for Microprocessor without Interlocked Pipeline Stages, was a pioneer of 32-bit and 64-bit processing, and its technology is found in routers, blu-ray players, digital televisions and video games consoles such as the Sony PlayStation 2. It has lost market share in recent years to chips based on the designs of Britain's ARM, but it still shipped more than 700 million MIPS-based chips in the 12 months to end-June. Imagination, which counts both Apple and Intel as shareholders, said the deal would accelerate its growth in the processor IP market. "I believe that the combination of our existing Meta CPU technologies and activities with MIPS' capabilities will help us to create a new force to be reckoned with in the CPU IP market," said chief executive Hossein Yassaie. MIPS said in a statement that shareholders would receive net proceeds of about $7.31 per share in cash after the two deals, which value the company at a 40 percent premium to the closing price on April 11, the day before rumours of a deal emerged. Shares in Imagination were 1.5 percent higher at 471 pence by 0844 GMT. ARM was up 4 percent, the top gainer on the FTSE 100 index < .FTSE>. (Reporting by Paul Sandle; editing by Rhys Jones) ((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net)) Keywords: IMAGINATIONTECHNOLOGIES

Analyst presentation up on website

http://www.imgtec.com/corporate/presentations/mips/Imagination_MIPS_Analysts_Presentation.pdf

Jeffries buy , price target 724p

IMG chart showing positive MACD divergence.

07 Nov Imagination... IMG JP Morgan Cazenove Overweight 0.00 474.30 750.00 750.00 Reiterates

750p SP Target.

IMG Imagination Technologies....

JP MORGAN FULL Broker Note......

Imagination Technologies Overweight
IMG.L, IMG LN

Imagination to buy MIPS Tech operating business and
some patents
Price: 465p
Price Target: 750p

European Semiconductors
Sandeep Deshpande AC
(44-20) 7134-5276
sandeep.s.deshpande@jpmorgan.com
Chetan Udeshi, CFA
(44-20) 7742 7034
chetan.x.udeshi@jpmorgan.com

J.P. Morgan Securities plc
YTD 1m 3m 12m
Abs -15.3% -9.7% -8.3% 1.1%
Imagination Technologies Group Plc (IMG.L;IMG LN)
FYE Apr 2011A 2012E 2013E 2014E
Adj. EPS FY (p) 7.33 10.47 13.92 17.89
Revenue FY (£ mn) 98 127 154 185
EBIT FY (£ mn) 24 37 47 61
EBIT margin FY 24.4% 28.8% 30.5% 33.1%
EV/Revenue FY 13.6 10.4 8.6 7.2
EV/EBITDA FY 55.7 36.3 28.3 21.7
Adj P/E FY 63.4 44.4 33.4 26.0
Bloomberg EPS FY (p) 7.70 11.20 13.70 17.80
Source: Company data, Bloomberg, J.P. Morgan estimates.
Company Data
Price (p) 465
Date Of Price 05 Nov 12
Price Target (p) 750
Price Target End Date 30 Apr 13
52-week Range (p) 734 - 392
Mkt Cap (£ mn) 1,224.1
Shares O/S (mn) 263
p
Nov-11 Feb-12 May-12 Aug-12 Nov-12

Price Performance

Imagination Tech is buying the operating business of MIPS, i.e. the licensing
and royalty revenue stream, which generated about US$60m continuing
business in the last fiscal year ended Jun ’12. Purchase price is $60m in cash,
so ~1x previous sales. As part of the purchase, IMG will also acquire 82
patents that are directly relevant to the MIPS architecture. The remaining 480
MIPS patents are being sold to Bridge Crossing LLC for $350m though IMG
will have royalty free use of those patents in perpetuity.
 What is the business? Like IMG and ARM, MIPS is an IP licensing
company licensing processor IP. About $15m of its revenue in the last fiscal
year was licensing revenue and $45m royalty revenue. MIPS royalty units
were 708m in last fiscal ended Jun ’12 and their royalty units have grown at
about 16-17% CAGR between 2007-2012. As part of the acquisition, IMG
gets MIPS design team and 32-bit and 64-bit processor designs.
 How much are they paying and how is it financed? They are paying
$60m for $60m last fiscal revenue stream. They are using cash on their
balance sheet to finance it. Thus buying it at trailing 1x sales. For the recent
quarter ended Sep '12, MIPS reported royalty and licensing revenue of
$13.9m (-19% YoY) with a slight underlying EBIT loss of $0.9m. The
business will come with $100m cash but that will be used to cover tax
payments associated with the disposal of the other patents. Thus,
effectively, it will be cash and debt free. IMG expects the acquisition to be
marginally dilutive to EPS for FY13 and accretive to EPS in 2014. We leave
our forecasts unchanged for now as the deal closes in 1Q13.
 What are synergies? 1) Imagination already has Meta 32-bit processor IP.
With MIPS they get much more battle-tested IP and thus MIPS could
replace Meta in their graphics processors as well. 2) Imagination will likely
reduce G&A at MIPS immediately, as costs of running a listed US company
are removed. There will also likely be sales and marketing cost synergies
and, over the longer term, possibly R&D synergies.
 Why has IMG bought them? MIPS did not gain mobile market traction.
That market is owned by ARM. They have also lost share to ARM in their
core consumer and networking markets. Imagination likely believes that by
being part of the more stable and growing Imagination group, they will be
able to stabilize market share and possibly begin growing MIPS’s licensing
base. MIPS already has 700m+ royalty unit per annum and, if licensees are
confident of future IP development, they will likely re-engage.

IMG IMAGINATION TECHNOLOGY

08 Nov Imagination... IMG Deutsche Bank Hold 479.05 479.00 590.00 590.00 Retains

590p SP Target.

Stan - 06 Nov 2012 07:26 - 101 of 111

Yeah, strange comment that , maybe he's lost money on them in the past.




lol , on the contrary Stan ... started a cracking thread on these over on ADVFN years ago I'll see if I can find it.

For you Stan :-)

IMAGINATION - All The Way Down To 80p ???


Dil 7 Feb'01 - 21:30 edit

Estimates were for EPS of about 3p this year and 4p next. These have now been withdrawn and revised estimates are awaited after the recent profit warning. Assuming that they are downgraded by only 20% then a PE of 25 for next year would equate to a share price of approximatley 80p.

Add to this the fact that the trend was already down and there are no major support levels between the current price of 163.5p and 80p and the case is compelling.

Anything I've overlooked ?

Dil




They actually fell from 163p to around 10p.

In both these stocks but the broker goes hold IMG sell ARM. Anyone have the full note or notes?.

08 Nov Imagination... IMG Deutsche Bank Hold 479.05 479.00 590.00 590.00 Retains
08 Nov ARM Holdings PLC ARM Deutsche Bank Sell 703.00 705.00 400.00 400.00 Retains

Just read half the thread on ADVFN but only the one on the free bb and not the one I started on the pbb.

Made me laff , even Limpy was shorting them. A year after the thread first started a guy called "Dyl" turned up , think Mike and Clem banned "Dil" for a month for having a laff when me and Addo realised that a 1 and an l looked exactly the same in a persons username so we signed up as Bullie , Limpy and everyone else we could think of with l in their username substituting it with a 1 then started a few threads (Dil and Di1 looked exactly the same as did Bullie and Bu1lie , Bul1ie and Bu11ie).

Them were the days :-)

Anyway , sorry for interupting the thread but its just one of those stocks I've never liked.

Should have shorted it again , always was a pile of sh*te.

IMG up over 10% on another good day for some of the Techs.

good recovery from the bottom, frend of mine got it, he's an engineer in computers world and is pushing the ball everytime I see him that semiconductor area is big future.i see they got good fundamentals.

This mornings full note.


13 February 2013
European Daily Focus

Deutsche Bank AG/London Page 7

Imagination Buy

Reuters:IMG.L Exchange: LSE Ticker:IMG
Tgt 520p to 600p. Potential earnings upside from Samsung win
Price (GBP) 520.50
Price target (GBP) 600.00
52-week range (GBP) 717.00 - 383.50
Market cap (GBP)(m) 1,384.3
Shares outstanding (m) 276
Free float (%) 100
FTSE 100 INDEX 6,338.4
FYE 4/30 2012A 2013E 2014E
Revenue
(GBPm)
127 158 190
DB PBT (GBPm) 37 43 57
Stated PBT
(GBPm)
29 29 42
DB EPS (GBP) 10.47 13.13 17.39
DPS (GBP) 0.00 0.00 0.00
P/E (DB EPS) (x) 47.4 39.8 30.0

Samsung Galaxy S4 design win could drive 12% earnings upside - Buy

Over 2012 Imagination's share price underperformed the European Tech sector by
50%, partially due to IMG losing its mobile graphics design win at Samsung's highend
Galaxy smartphone range to competitor ARM (Sell, 903.50p). With IMG
management commenting on re-gaining momentum at Samsung in FY14e (April
end) and Samsung not confirming ARM as the graphics provider at the launch of its
latest high-end smartphone processor, we are now getting more confident in
potential share re-gains for IMG here. In the case of IMG winning the new Galaxy S4
high-end smartphone, we would see 12% upside to our new FY14e EPS forecast. We
reiterate Buy and move our price target to 600p.
Samsung share re-gains likely, potential for Galaxy S4 design win
Following a 2011 licensing agreement and upbeat IMG management comments on
growing royalty revenues from Samsung in FY14e, we see an increasing likelihood of
share re-gains at Samsung in 2013. We believe IMG could have won back the
graphics/GPU socket from ARM in Samsung’s upcoming high performance/ASP
Exynos Octa processor that should ship in the Galaxy S4 (likely released in
March/April). We would view potential share re-gains at Samsung’s high-end
smartphone line-up as a positive catalyst for IMG’s share price and reiterate our Buy
recommendation.
Galaxy S4 design win would drive 12% EPS upside
We update our estimates and raise FY14e EPS by 7% reflecting 1) improving
momentum at Samsung, 2) likely traction of IMG’s customer MediaTek (Buy,
TWD325.00) in lowend tablets, 3) a moderately weaker Apple outlook and 4) a
slightly stronger USD. We currently model ‘only’ a mid-range design win at Samsung
equivalent to 20% unit market share. In the event of a high-end Galaxy S4 design
win, however, our sensitivity analysis shows 12% potential upside to our FY14e EPS.
Raise target price to 600p; risks
We raise our DCF-based target price from 520p to 600p reflecting our estimate
changes and lower LT tax rates. Our DCF assumptions are: 18% FY12-16e and 12%
FY16-20e revenue CAGR, 4% terminal growth, 9% WACC. Key risks include: share
losses at existing customers, worse than-expected unit and ASP trends at Apple
(Buy, $479.93), lower than expected share gains at Samsung, FX.
Johannes Schaller
(+49) 69 910-31731
johannes.schaller@db.com

Brokers are bullish on the stock.

Imagination Technologies Group Broker Views
Date Broker Recommendation Price Old target price New target price Notes

13 Feb Deutsche Bank Buy 524.50 520.00 600.00 Reiterates
05 Feb JP Morgan Cazenove Overweight 524.50 - - Reiterates
30 Jan Morgan Stanley Overweight 524.50 450.00 570.00 Upgrades
14 Jan Barclays Capital Overweight 524.50 650.00 650.00 Retains
14 Jan Goldman Sachs Buy 524.50 600.00 600.00 Downgrades

Huge drop of 80p today

RNS profit warning.

Indeed.. Whoops! http://www.moneyam.com/action/news/showArticle?id=4587279

Still dropping...

Same old IMG , told you they were crap Stan :-)

Exane BNP Paribas Neutral 0.00 314.90 610.00 311.00 Downgrades

SP bouncing off historical support line. At approx 298p. Oct 2010, July 2011.

I think the SP is well oversold given the broker figures below. Ok we have a mixed bunch of estimates but the overal sp figure is certainly a lot higher than the present market sp.

Date Company Name Broker Rec. Price Old target price New target price Notes

07 May 13 Imagination... Exane BNP Paribas Neutral 0.00 610.00 311.00 Downgrades
03 May 13 Imagination... Numis Buy 0.00 590.00 460.00 Reiterates
03 May 13 Imagination... Credit Suisse Underperform 0.00 410.00 250.00 Reiterates
03 May 13 Imagination... JP Morgan Cazenove Overweight 0.00 750.00 475.00 Reiterates
03 May 13 Imagination... Deutsche Bank Hold 0.00 600.00 380.00 Downgrades
03 May 13 Imagination... N+1 Singer Buy 0.00 625.00 450.00 Reiterates
03 May 13 Imagination... Morgan Stanley Overweight 0.00 570.00 450.00 Retains
02 May 13 Imagination... Investec Hold 0.00 540.00 385.00 Retains

NORWICH & PETERBOROUGH BUILDING SOCIETY

Up and Funding‏@UpAndFunding8m
Sony returns to profit for first time in five years

http://www.telegraph.co.uk/technology/sony/10045824/Sony-returns-to-profit-for-first-time-in-five-years.html …

My buy here now going to plan............ sweat.

Now have a nice profit.

Well don't forget to sell gf cos no good news and these are headed towards 200p imo.

Good luck.

Final Results

Financial highlights

· Group revenue up 19% to £151.5m (2012: £127.5m) including £8.2m from MIPS*
o Technology revenue increased 28% to £125.7m (2012: £98.2m)
- Royalty revenue up 49% to £95.1m (2012: £63.8m) including £5.6m from MIPS*
- Licensing revenue of £29.1m (2012: £34.4m) including £2.6m from MIPS*
o Pure revenues of £25.8m (2012: £29.3m)
· Adjusted pre-tax profit** of £34.3m (2012: £36.8m)
· Reported pre-tax profit of £12.2m (2012: £28.5m)
· Adjusted earnings per share** 9.4p (2012: 10.1p restated***)
· Reported earnings per share 2.4p (2012: 8.0p restated***)
· Net cash balance of £45.6m (2012: £60.7m)
o Net cash included £56.3m held to settle MIPS patent sale tax liability - paid on 14 June 2013

skin are these results good enough to support their high PE?

Take your pick halifax - from today.

Canaccord Genuity Hold 322.55 - 350.00 Reiterates

Finncap Hold 322.55 300.00 300.00 Retains

Morgan Stanley Overweight 322.55 450.00 450.00 Retains

Investec Hold 322.55 385.00 - Under Review

skin mixed views perhaps better to stay on the sidelines with this one until the dust settles.

Black Rock go above 5%.

Still looks like 200p to me.

Buy something tidy Stan.

Like this perhaps ?

Richard Smith, Executive Director, bought 5,000 shares in the company on the 28th June 2013 at a price of 281.80p. The Director now holds 6,113 shares representing 0.00% of the shares in issue.

You still a holder Dil? -):

There seems to be a problem on that link.. shirt colour of course

Hey look at this......KEY DAY REVERSAL candlestick at the bottom.

This could be a corker of an opportunity.

Going to do further fundy research but this looks very very promising. DYOR

Buy something tidy gf , these are crap.

June 20 (Reuters) - Imagination Technologies Group PLC IMG.L :
* Credit Suisse raises target price to 275p from 250p; rating underperform
June 20 (Reuters) - Imagination Technologies Group PLC IMG.L :
* Investec cuts target price to 340p from 395p; rating hold
LONDON, June 19 (Reuters) - Imagination Technologies
IMG.L , the British chip designer whose graphics technology is in smartphones from Apple AAPL.O and Samsung 005930.KS , reported lower full-year profits as licensing slows.
The British company, which licenses its designs to chipmakers and receives a royalty on every unit shipped, has lost business it had expected from customers such as Texas Instruments TXN.O and ST Ericsson as the smartphone market consolidates around a few big players.
It warned last month that the shift would hurt license revenues this year and next, leading to sharp profit forecast downgrades from analysts.
"The number of players in that segment has reduced over the last few months, there have been winners and losers," Chief Executive Hossein Yassaie said in an interview on Wednesday.
Its competitor ARM ARM.L has also been winning market share in graphics in smartphones, mobile computers and digital TVs.
But Yassaie said the company would retain a strong position in what was still a growing smartphone market, both at the top end, where Imagination is strong, and at the lower end.
Analysts had raised concerns that Apple, which holds a 8.7 percent stake in Imagination, could opt for a cheaper chipset from Qualcomm QCOM.O for a possible low-end iPhone, rather than designing its own processor.
Yassaie said he was confident that the major smartphone players would stay loyal: "I would be very sceptical of people who believe that customers will change an ecosystem on the back of that sort of issue.
"A lot of our customers have the technology and ability to target different price points with our technology."
Yassaie is targeting markets like televisions, and, in the longer term, wearable technology. Its designs are in Google Glass, the computer with a display on a pair of glasses.
But for the next year, Yassaie is sticking to guidance of licensing revenue of 30 million-35 million pounds.
Analysts in May said the forecast indicated that the company was undergoing more than a short-term blip in licensing.
"We would rather take a cautious approach than be very aggressive," Yassaie said. "It is possible we do better than that, but we stand by that guidance."
Imagination posted adjusted pretax profit of 34.3 million pounds ($53.5 million) for the year to end-April, down from 36.8 million, on revenue up 19 percent to 151.5 million pounds.
Shares in the group, which fell 27 percent after the profit warning, were trading up 3 percent at 314.5 pence by 1052 GMT.
"Given the weakness of the stock into this update, arguably a set of results in line with the trading update should be sufficient to support the stock," analyst James Goodman at Investec said.

Yep above post by shortie appreciated.

Warrants a close watch though I reckon, although WLF may be a better bet at the moment.

New three year low . these are going to hit 200p soon.

Bad day for them stems from Apple speculation.

SP hit the "buffers" big time are we looking at 200p?

Falling licensing revenues from the initial sales of designs to manufacturers is why these shares are down. The highend smartphone market is cooling, thats why you see the likes of Apple well off highs now as the market hits saturation. The midrange and budget smartphone market is where the competition is now.

Looks like MM's have been caught with their pants down.

Grasping both ankles I reckon Hali..

Boom, Samsung has decided to switch from IMG's GPU and has picked ARM for its latest graphics applications... With the slowdown in Apple this looks good now for a short play.

Just wondering if we have hit a bottom here?. Certainly been some very positive news coming out from Apple over last couple of weeks. Stake building and win over Samsung.

To buy or not to buy?...... you guys have any thoughts? Update....bought in.

Yeah don't do it ... update : too late :-)

Bit of profit taking today but still on course for recovery.

Not a bad bit of profit for some! Not me, I forgot to buy when I should have!

Well done kim you won ... always made more shorting these perennial under performers.

Licensing Agreement http://www.moneyam.com/action/news/showArticle?id=4667808

Up nearly 9% at the mo!

Interim Manangement Statement

Plop !

What you doing up this early -):

Watch for the short term bounce with these.

No cricket :-)

Sp 172p down nearly 10% is it worth bottom fishing?

It has to turn at some point ,i was looking at 190 ,glad i didn't get in .

Jimmy, broker forecasts dont giver much upside.

Imagination Technologies Group Broker Views
Date Broker Recommendation Price Old target price New target price Notes
12 Dec RBC Capital Markets Underperform 170.55 210.00 110.00 Reiterates
12 Dec Canaccord Genuity Hold 170.55 350.00 185.00 Reiterates
12 Dec Credit Suisse Underperform 170.55 235.00 175.00 Reiterates
12 Dec Liberum Capital Buy 170.55 - 250.00 Upgrades
12 Dec Deutsche Bank Hold 170.55 280.00 200.00 Retains

Yikes hasnt realised it had fallen that much today. Im sure it was up at one time or was that yesterday.

Cheers GF ,pure gamble at the moment this i feel ,it'l bounce sometime ,think i'll go and buy a lottery ticket ...

LOL. Its been a s-ite day on the market Jimmy worst for a long time.

Just hoping Santa is coming next week.

Don't look like he's coming today for this POS.

I'll be in at 5p !!

Here is a linky to an article yesterday.

http://www.shareprophets.advfn.com/views/3123/should-a-vulture-investor-pounce-on-imagination-technologies

IMG to offer digital radios to the automotive world.

http://www.imgtec.com/News/Release/index.asp?NewsID=815

Blu Wireless combines Imagination’s MIPS Aptiv CPUs in groundbreaking 60GHz System IP for WiGig and backhaul markets

http://www.imgtec.com/News/Release/index.asp?NewsID=819

Still a pos in my opinion ... traders dream at best.

Christopher Williams, Technology, Media and Telecoms Editor
IMAGINATION TECHNOLOGIES

Being an Imagination Technologies shareholder has not been for the faint-hearted in a rollercoaster year. But those with the guts to stick with one of Britain’s few global hi-tech forces and see past the ups and downs of quarterly results should enjoy big rewards.

Its fortunes are linked to the growth in smartphones and tablet computing thanks to its leading position designing graphics microchips. The mobile revolution still has a long way to go as it penetrates all aspects of our social and business lives; the number of smartphones worldwide is expected to overtake the number of computers in the first quarter of next year.

Despite competitive pressures and a fast-changing market, it will be hard for it not to increase revenues rapidly in 2014 and beyond.

The price will start from a low base in the new year, below 200p. At its peak in 2012 it was above 700p. The shares are cheap and represent a big opportunity for patient and courageous investors who understand that the type of innovation the company feeds off can’t be usefully measured every three months.

Harry Wilson, Banking Editor
BARCLAYS

Harry Wilson of Barclays is obviously sitting on a large loss!

Date Company Name Broker Rec. Price Old target price New target price Notes

17 Dec 13 Imagination... Barclays Capital Equal weight 181.60 250.00 185.00 Retains
13 Dec 13 Imagination... Numis Hold 181.60 460.00 200.00 Downgrades
12 Dec 13 Imagination... RBC Capital Markets Underperform 181.60 210.00 110.00 Reiterates
12 Dec 13 Imagination... Canaccord Genuity Hold 181.60 350.00 185.00 Reiterates
12 Dec 13 Imagination... Credit Suisse Underperform 181.60 235.00 175.00 Reiterates
12 Dec 13 Imagination... Liberum Capital Buy 181.60 - 250.00 Upgrades
12 Dec 13 Imagination... Deutsche Bank Hold 181.60 280.00 200.00 Retains
11 Dec 13 Imagination... Credit Suisse Underperform 181.60 235.00 235.00 Reiterates
11 Dec 13 Imagination... Investec Hold 181.60 340.00 250.00 Retains
11 Dec 13 Imagination... Finncap Hold 181.60 - 230.00 Retains
11 Dec 13 Imagination... Deutsche Bank Hold 181.60 280.00 280.00 Retains
06 Dec 13 Imagination... Berenberg Sell 181.60 210.00 210.00 Reiterates
04 Dec 13 Imagination... Credit Suisse Underperform 181.60 235.00 235.00 Reiterates
04 Dec 13 Imagination... Jefferies International Buy 181.60 392.00 392.00 Retains

The Telegraph has it as one of its picks for 2014, for what it's worth !

Been a great trading stock for me this year...

Fingers crossed for another good day. reckon part of yesterdays rise was shorters closing their positions and buying back.

Up over 10% on the day as I post. Very nice return in just 3 days of approx 17%.....still running, looks like shorters buying back.

Not in this time :(

RNS good news? sp falls.

sp trashed again today?

I think it hit a year low .

It'll probably hit another one next week and the week after and the week after and the week after .....

Disclaimer : I do not hold :-)

Last company accounts placed £177m as net assets with 266m shares in issue, this gives you a base price of 67p the rest 100+p being all based on future earnings or not as the case now might be.

Won't be worth anywhere near £177m in a fire sale these need some good news fast.

I posted that on the indicies thread for Jimmy following a question about the chart I last posted. Suppose I should really be shorting this stock... the reason I'm not though http://www.androidauthority.com/imagination-tech-powervr-6xt-332056/

Not shorting them either just think from an investment point of view they are a POS but a traders dream.

182.73 gone short

Position closed this morning small profit

Called that good shortie one of only a couple red on my list.

6 February 2014

Imagination Technologies Group plc

Imagination Technologies extends its multi-year licensing agreement with Apple

Imagination Technologies Group plc (LSE: IMG, "Imagination") announces that Apple has extended its multi-year, multi-use license agreement, which gives Apple access to Imagination's wide range of current and future PowerVR graphics and video IP cores.

Under the terms of the above licensing arrangement, Imagination will receive on-going license fees, and royalty revenues on shipment of SoCs (Systems on Chip) incorporating Imagination's IP.

sp down 6% @173p in spite of Apple news?

Doesn't surprise me ,always jumps on news and sinks straight after .

Some movement up this afternoon, as it was bouncing from support once again.
Though I was busy with other things at the time, managed to get some @ 163.60p

There is this week in San Francisco the 2014 Game Developers Conference.


Imagination Technologies Delivers Revolution in Graphics With New Wizard Family of PowerVR Ray Tracing GPUs / New March 18, 2014 13:00 |

SAN FRANCISCO, March 18, 2014 (GLOBE NEWSWIRE) -- Game Developers Conference -- Imagination Technologies (IMG.L) delivers a revolutionary new family of graphics IP cores that raises the bar for ray traced graphics to a dramatic new level, delivering astonishing realism and performance at mobile power budgets.

Wizard cores enable more immersive games and apps with real-life dynamic lighting models that enable advanced lighting effects, dynamic soft shadows, and life-like reflections and transparencies, previously unachievable in a mobile form factor. PowerVR Wizard Ray Tracing IP is highly scalable, making it disruptive to many other markets beyond mobile.

The new PowerVR Wizard graphics architecture is a significant addition to the lineup of market-leading PowerVR graphics processors (GPUs), which are already present in over half of the world's smartphones and tablets.

The Wizard architecture is a ray tracing-enabled version of the PowerVR Series6XT Rogue architecture which adds significant new features to the pipeline, enabling accurate real time modelling of fully dynamic lights and shadows. Everything developers know and love about the PowerVR Rogue architecture is present in Wizard GPUs, enabling them to start to use ray tracing without extensive new learning.

PowerVR GR6500 is the first member of the new Wizard family of cores designed to bring real-time, interactive ray traced graphics to a broad range of consumer and mobile platforms, as well as gaming consoles and mainstream gaming PCs, workstations and servers.

Hossein Yassaie, president and CEO of Imagination, says: "Imagination's highly-efficient PowerVR GPUs have played a key role in driving the creation of entirely new categories of mobile devices. Now we are changing the game again by bringing the next level of realism to mobile and consumer devices. Our ray tracing IP is here, and it's ready for our licensees and developers to begin creating a new wave of immersive and exciting PowerVR-based consumer experiences."...........

for better references on charting using AT not middle price

large GAP up 10 points at the opening, has settled at around 170p at the moment

Already well ahead at 178p of the opening and with more volume in 1 hour than the whole day yesterday

Yep lovely charts them just like Master RSIs across the road on advfn.

Are you a good mate of his then?????????????

Do you hang out together?.

Imagination and Unity partner to bring Imagination’s breakthrough
Unity 5 will bring photorealistic graphics to a broad range of gaming devices

GAME DEVELOPERS CONFERENCE, SAN FRANCISCO, CA - 18 March, 2014 -
Imagination Technologies (IMG.L) and Unity Technologies are broadening their partnership with a new multi-faceted agreement around Imagination's groundbreaking PowerVR Ray Tracing technology and Unity's industry leading game development engine that will bring photorealistic graphics to the mainstream gaming experience across a wide range of devices.

In an industry first, Unity has chosen Imagination's real-time ray tracing technology to enable game creators to view in-game lighting effects with immediate feedback as they work with the upcoming release of Unity 5. Artists and game designers will, through integration of Imagination's ray tracing technology in Unity 5, immediately see their work with accurate lighting that matches the final look of their game. The resulting games can be deployed across today's existing devices.

In addition, Unity Technologies and Imagination have entered into a longer-term strategic collaboration to blend ray tracing capability seamlessly into the gameplay experience, enabled by consumer devices that integrate Imagination's newly announced PowerVR Wizard Ray Tracing GPUs (graphics processors). Integrating ray tracing directly into the game engine through this hardware IP solution will lead to interactive game graphics that will look as realistic as CG movies do today. The PowerVR Wizard IPprovides programmable ray tracing, accessible within the shaders running on the PowerVR GPU, enabling all mobile developers to trace rays freely within their existing applications, even in combination with existing rasterization methods. ........

http://www.twst.com/update/47074-imagination-technologies-group-plc-imagination-and-unity-partner-to-bring-imaginations-breakthrough

Joined at the hip are you U and Master RSI ?????????????????????????????????????

No wonder the opening price
UBS raises to buy from neutral

thanks chames

the large GAP was something more than just the news yesterday

goldfinger
moneyam would be a better place if we stick to the knitting " bussiness"

A very good endorsement

"Says Yasuhiro Kondo, general manager, Arcade Machine Development, SEGA Co Ltd.: “SEGA welcomes the announcement of PowerVR Ray Tracing IP from Imagination Technologies. We expect that the Wizard cores will create a great revolution in the graphics experience of the gaming market.”

You sold BLNX yet panto ? ... another fine tip that was NOT !

After yesterday's afternoon profit taking and this morning lower market opening, this afternoon is rising again and at this rate is looking like yesterday's high is going to be reached

Reached and just over yesterday's high at the end

panto aka chames and 50 other aka's, I got IMG yesterday, and nicely in profit.

Im still going to split on you to management.

:-)

Did you miss my question re: BLNX panto ???

Gf ... what have I told you re this pile of shite ??? .. good luck mate :-)

.... and those sixteen pints of Welsh muck and a quickie with dolly were worth staying up for.


xxx

Just short term trade Dil, dont worry. cheers.

Just broken the 190p point, not more to say at this time

After the recent profit taking, has slowly moving higher again with a good rise today to 189p

191.62 gone short

I have a short term target of 196p, so that in when I intend to sell, that will be 32 points up....
... But I bought already another stock and have to close IMG today

now 193.25p and still intraday rising

re - have to close IMG today

It was not intraday rising as it broke down from 192p on the chart
so I sold at 191.80p for a gain of 27.75p on 6 trading days just short of 17% profit

re - I have a short term target of 196p

the 1st target have been reached today.

Not any longer on the stock, took my profits and put the money on BLNX and THT, both have moved forward since, specialy THT

How you doing on COMS panto .... and the English lessons ?

Weren't you long BLNX all the way down from 140p ???

Good luck , pile of shite .... my girlfriend Dolly told me xxxx.

Still holding this short..

share price went to 225p and not closing before that

something wrong with you,
only here cos today is down under that price 189.50p now

if it sounds like a SCAM, is because it is

Shortie - 26 Mar 2014 10:48 - 218 of 225
191.62 gone short

I'll repeat Panto, still holding short, nothing wrong with me either...

Panto dont worry :-) you not alone on it , think in the best scenario - a horrible quality

Oh god he's talking to himself now.........

Says Tomasz whos been long on ASC and watched the stock fall off a cliff... Paper trader that goes by multiple names...

I'll post when I close the position then I think I'll go back to keeping my plays to myself on equities.

that is the best,
cos you are not making any money
not making any sense
not making any one to look at what you suppose to do and post short/long

I suppose to be ... squelch
... but answering

if it sounds like a SCAM, is because it is
lying left right and center

edit - I do not do shorts, but my long time investment says ... after reaching certain point on going against you, one close the position.
IMG was 191.50p when - Shortie - went short share price gone to 225p after.
who keeps a position open this way, has no idea of punting

You should look at yourself before you accuse anyone else. Most of MAM have you on squelch, you have no following here..

tell me names then?

posters maybe do not like me, cos I tell them what I think ( just like you ) but they answer alright.

do not forget people do not like others being successfull ( I do cos the bank account say so )

There is one say " if you want to lie, try to remember your lie ", you are faultering on the 1st commandment

What are you babbeling on about now? Spend some money and learn how to read and write in English, then maybe learn some manners and get an eduction.

"eduction."


And I am dil exia!

lost the point alright,
changing the subject

we speak business, not grammar

Fred - ooopppsss typo, I don't always check, no..

Panto - "we speak business not grammer" in your case you just speak bollocks!! Crack on idiot...

Shortie = CON man of first order when losing the point
do not forget you are on the list of -STALKER - LIER - CON man -

if you want to quote me, have the decency of doing so, do not change my post

get an "eduction" is your motto

panto - 09 Apr 2014 12:33 - 237 of 238
lost the point alright,
changing the subject

we speak business, not grammar

Glad you think so Panto, your lists appear as accurate as your investment ideas.

re - your investment ideas.

pretty clear,
I came out with a 17% profit on a few days
and did not have to pay for the stock on top close position on a long T

you OUCH at 208p now 8.6% loss so far

8.6% loss????? I'm on a unrealised loss of 15.5 pts on this one...

Oi panto we miss your input on the BLNX thread , hit 80.27p yesterday

xxx



panto - 25 Mar 2014 15:52 - 5836 of 5900

re - 80p

I've heard some claptrap from the 'Welsh' gurus in my time, but that takes the biscuit

Stil holding short.

Dont blame you , you could throw a dart at stocks today and short almost anything , mostly mine :))

187.28 position closed.

Final Results http://www.moneyam.com/action/news/showArticle?id=4834723

Any ideas why price has decreased so dramatically today?
what's happening???
maybe is the bottom as is bouncing back

Market Makers shake yesterday, is the most likely scenario up 10p today

Trading update

Licensing activity in the period has been good with encouraging levels of activity across all three main IP product areas and across the broad customer base.

Royalty revenue for the quarter ended 30 June 2014 has been in line with our expectations, reflecting both growth from a number of partners as well as the short term impact from known product transitions with other partners this year. We are pleased that the average royalty rate for the quarter remained strong and marginally higher than last year, which we expected given the change in product mix.

The active licensing pipeline across our IP and customer base is building the foundation for significant future unit growth.

Both licensing and royalty revenue have been affected by the strength of sterling in the period, leading to adverse comparisons with the prior year. Given the recent volatility of sterling, it is difficult to predict the likely impact of this factor for the financial year to April 2015. However, we continue to be active in hedging some of our exposure to currency movements.

The Pure business is trading in line with expectations following the renewed focus and organisational changes implemented at the end of FY14. We are expecting further progress with the latest product releases.

Despite the Group continuing to invest in a number of key areas, tight operational control has been maintained and underlying operating costs are growing at a lower rate and in line with expectations.

Interims http://www.moneyam.com/action/news/showArticle?id=5004284

StockMarketWire.com
Imagination Technologies warns of a first half loss a with revenues lower than previously forecast.

The company says the semiconductor sector in general had a weak June quarter but the industry expectation is for this to improve in the second half of the year.

It says part of this has been driven by the sharp slowdown in the rate of growth of the emerging economies, and in particular the Chinese market. Imagination says the combination of general market softness in H1 and the short-term timing impact of the replacement chip ramp up, lead it to expect lower H1 revenues than it had previously forecast, which is likely to lead to a loss for H1. Based on the strength of the licensing pipeline and customers' product launches Imagination now expects a stronger H2 than previously forecast. But it says that at this early stage of the year, it cannot be certain that it will recover all of the H1 shortfall. Given the strong licensing activities in the last couple of years and the growing design wins in various markets, it expects the medium-term volume to gain significant momentum despite these short-term industry and specific factors.

Chief executive Hossein Yassaie said: "Following the strong licensing during the second half of last financial year, the pipeline of opportunities has encouragingly built-up to healthy levels during the first quarter of the year. "For both our PowerVR GPUs and MIPS cores we are seeing growing interest and engagements from several high volume partners. We expect these engagements to lead to licenses during this financial year and, combined with tier-one deals closed during the second half of last year, will help to build significant volume growth in the medium-term. "The Ensigma IP families continue to strengthen as we build up all the elements towards complete solutions. The level of customer engagement is increasing strongly, helping to grow this developing business. "There are some indications of general softness across the semiconductor industry for the short-term. However, given the relevance of our technologies to the key markets and design-wins we have already secured and expect to secure, we remain confident of a growing momentum in our business in the medium-term."

http://www.moneyam.com/action/news/showArticle?id=5134052

Notice of results http://www.moneyam.com/action/news/showArticle?id=5155867

Half yearly Report http://www.moneyam.com/action/news/showArticle?id=5174845

SP down nearly 7% at the mo.

Imagination CEO steps down; forecasts EBIT loss

Imagination Technologies Group chief executive Sir Hossein Yassaie has stepped down with immediate effect. Andrew Heath, one of the non-executive directors, has been appointed interim CEO The group also published a trading update as the board now expects to report an EBIT loss for the financial year to 30 April 2016. Imagination is also announcing details on restructuring initiatives. These include the sale of Pure, its consumer electronics business, and the expectation at this stage that Imagination will reduce total operating costs of its on-going businesses by GBP15 million in the next financial year, ending April 2017.

The group says that since it published its half year results in December, market conditions have not improved and the slow-down in the overall semiconductor sector has continued, reinforced by global uncertainty about future trading prospects with China. Royalty returns from some key customers have fallen short of previous expectations for the last calendar quarter of 2015 with lower forecasts for the first calendar quarter of 2016. While the licence pipeline remains strong, and licences and related revenues already secured this year amount to �24 million, the pace of deal closure is falling short of prior expectations. The royalty reduction coupled with continuing uncertainty over licence revenue timing is likely to result in a material reduction in expected FY16 revenues and resulting profitability. The Group now expects to report an EBIT loss for the financial year to 30 April 2016. The group continues to have sufficient cash resources to meet its obligations going forward.

Story provided by StockMarketWire.com

Watch this one dive now.

So that's a buy then mitzy???!!!! ;o)

Lol Harry.

Baillie Gifford & Co go above 12% http://www.moneyam.com/action/news/showArticle?id=5213530

Possible takeover talk:

http://arstechnica.co.uk/gadgets/2016/03/apple-acquire-imagination-powervr-gpu/

Interesting, I wondered why they were up with no RNS.

StockMarketWire.com
Imagination Technologies Group has noted the announcement from Apple Inc that it does not intend to make an offer for the company. Imagination says the board values Apple very highly as an important ongoing partner of the company.

TSINGHUA UNIGROUP INTERNATIONAL CO., LTD. go above the 3% holding.. the SP is up over 13% at the mo!

so the chinese now have a strategic 3% stake
they worry me far more than the japanese and ARM

Maybe not such a smart purchase by the Chinese.

3 April 2017

Imagination Technologies Group plc

Discussions with Apple regarding license agreement

Imagination Technologies Group plc (LSE: IMG, "Imagination", "the Group") a leading multimedia, processor and communications technology company, has been notified by Apple Inc. ("Apple"), its largest customer, that Apple is of a view that it will no longer use the Group's intellectual property in its new products in 15 months to two years time, and as such will not be eligible for royalty payments under the current license and royalty agreement.

Apple has used Imagination's technology and intellectual property for many years. It has formed the basis of Graphics Processor Units ("GPUs") in Apple's phones, tablets, iPods, TVs and watches. Apple has asserted that it has been working on a separate, independent graphics design in order to control its products and will be reducing its future reliance on Imagination's technology.

Apple has not presented any evidence to substantiate its assertion that it will no longer require Imagination's technology, without violating Imagination's patents, intellectual property and confidential information. This evidence has been requested by Imagination but Apple has declined to provide it.

Further, Imagination believes that it would be extremely challenging to design a brand new GPU architecture from basics without infringing its intellectual property rights, accordingly Imagination does not accept Apple's assertions.

Apple's notification has led Imagination to discuss with Apple potential alternative commercial arrangements for the current license and royalty agreement.

Imagination has reserved all its rights in respect of Apple's unauthorised use of Imagination's confidential information and Imagination's intellectual property rights.

Down by two thirds! WOW !!

Must be worth a punt Yes ? No ?

ouch!
i've got some of those in my sipp

=============

good idea chess, but sp has now zipped away from 105 which was the level i was looking for

Blimey, eggs and baskets spring to mind regarding their tie up with Apple.. be very careful about these Alf.. one of Dili favourites if I'm not mistaken )-:

Comment from J P Morgan:
"Apple is by far Imagination's most important customer and responsible for the majority of its revenue. The information that it will not use Imagination IP after next 15-24 months is potentially fatal for the company and the only rescue would be a distress sale. In fact, we think it virtually impossible to build a model for the company without Apple revenue. Thus though the fall in the stock post the announcement is substantial we find it difficult to value the company without Apple revenue and the company will likely have to effect a distress sale in the current environment. The options in front of the company include: 1) Sale of graphics IP to Apple. 2) Sale of right to use graphics IP to Apple while continuing to maintain its own graphics IP business to other customers along with its MIPS and Ensigma businesses. 3) Break up and sale of all the businesses of the company. Only the graphics IP would today get proper value, though breaking up the assets could potentially generate some more value than that reflected in the stock today after the announcement, though the cost will be in terms of how long this break up takes to execute."

UBS comment:
Scenarios (1) and (2) - the status quo and the re-pricing
The first scenario would be Apple continues paying royalties at rates similar to history which is the assumption behind our last published price target of 270p (now under review).
The second scenario would be the royalty rate is renegotiated lower. We estimate that Apple currently pays IMG around c$0.30 royalty per device. In FY19E, as long as any renegotiated royalty rate remains above $0.11 we estimate IMG would remain profitable (before stock comp) under the current business plan (i.e. rising investment in PowerVR and gaining other customers). Placing a value on this scenario is tough but assuming $0.11 royalty rate and growth elsewhere to restore profitability (to 20%/30% EBIT margins long-term), our DCF model suggests a value of 90p/140p, assuming all else being equal.
Scenario (3) - what if IMG is not successful
If IMG is not successful in generating revenue from Apple of some form longer-term, we estimate the business would be loss-making by c£22m (before stock comp and based on our assumptions still holding for the rest of the business) and would need to investigate either: 1) the cost base; 2) gaining significant new business or 3) finding another way to generate value from the IP (we note that the MIPS patent portfolio was sold for $350m). Valuing this scenario is highly challenging in our view but positively we estimate IMG reaches a net cash position by end of FY18E."

perhaps i wasn't too smart buying a few to trade at 103.5
oh well ..... fingers x'ed for some bear closing to bank profits

lucky alphonse!
while i was out and about, my limit at 107 was hit so walked away (undeservedly) with a profit of 3.5p a share

80P at one point !!!!

lower than that earlier in the day :-)

Good call, cynic. 98p now.

with hindsight, just bloody lucky to escape with any sort of profit

You're a brave man, cynic.

Jefferies International today downgrades its investment rating on Imagination Technologies Group PLC (LON:IMG) to hold (from buy) and cut its price target to 95p (from 219p).

Credit Suisse comment:
Upgrade from UP to Neutral, TP lowered to 100p. Post the announcement around Apple moving away from using IMG graphics to its own independent solution, we now assume Apple contribution (~50% of IMG group revenues in FY17) to decline by 60% in FY19 (year ending Apr-2019) before falling to zero by FY20. Small part of this would be offset by design wins at Spreadtrum and in areas outside of Mobile, but this would imply that IMG sales will decline from £136mn in FY17E to £80mn by FY20E, making the EBIT profit of £26mn in FY17E turn into £24mn loss by FY20E. With Apple risks now having played out (something we have been flagging recently, although we only expected scoping down of existing agreement), we believe there could be some interest in IMG assets (graphics technology, IP and patents). As such, we upgrade to Neutral with TP of 100p (down from 180p).

more like a damn fool hyleo, though this time i got away with it
i still have my sipp holding

JP Morgan Cazenove today reaffirms its neutral investment rating on Imagination Technologies Group PLC (LON:IMG) and cut its price target to 95p (from 250p)

Final results http://www.moneyam.com/action/news/showArticle?id=5579086

SUNDAY MAIL

Row between British tech star Imagination Technologies and Apple set to intensify after unveiling of new iPhone - By Matt Oliver

The row between British tech star Imagination Technologies and Apple is set to intensify after the Silicon Valley titan unveiled the new iPhone model to millions of fans.

Revealing the iPhone X on Tuesday, bosses at Apple boasted their ‘most-powerful’ new A11 Bionic chip – which acts as the phone’s brain – was their first-ever such chip designed in-house.

But the A11 appears to contain some key Imagination technology – setting the stage for a further showdown between the companies after a bitter fall-out.

Phone wars: Imagination made chips for all of Apple¿s phones until it was ditched earlier this year


Imagination made chips for all of Apple’s phones until it was ditched earlier this year and told royalties would be wound down, with Apple deciding to make its own chips.

The loss of its main client sent Imagination’s shares into freefall, wiping £500m off its value and forcing bosses to put the company up for sale.

Hertfordshire-based Imagination has threatened legal action and insisted it would be ‘extremely challenging’ for Apple to design its own chips without using Imagination’s technology somewhere along the line.

Analysts at Numis speculated they do expect Apple to have to pay royalties to Imagination for technology in the new iPhone, despite Apple’s boasts about it being its own work.

Numis said: ’It is noted on Apple’s developer website that the A11 GPU uses a key Imagination-patented approach called tile-based deferred rendering, which would indicate it will be a royalty-bearing chip.’ Imagination claims Apple admitted to working on its own version of key chip technology while still collaborating with its British partner.

It also emerged Apple poached several staff, including engineers, managers, its chief operation officer, a head of hardware and a leading designer.

Philip Schiller, Apple’s senior vice president of worldwide marketing, said on Tuesday that the A11 Bionic chip contained the ‘first-ever Apple-designed GPU’. He added: ‘This is a breakthrough performance in a mobile device. There has never been anything like it.’ All of the new features in the iPhone X were also powered by the Apple-designed chip, Schiller added.

Imagination declined to comment. Apple declined to comment on the new iPhone X but said: ‘We began working with Imagination in 2007 and stopped accepting new IP from them in 2015.

‘After lengthy discussions we advised Imagination on February 9 that we expected to wind down our licensing agreement since we need unique and differentiating IP for our products.’

Nov 2017
StockMarketWire.com
The scheme of arrangement for the recommended cash acquisition of Imagination Technologies by CBFI Investment, a wholly-owned subsidiary of funds managed by Canyon Bridge Capital Partners, has taken effect.
Scheme Shareholders on the register of members of Imagination at the Scheme Record Time, being 6.00 p.m. on 3 November 2017, will be entitled to receive 182 pence in cash for each Scheme Share held.