IQE is the leading global outsource supplier of customized epitaxial wafers to the semiconductor industry.

Their technology is of most advanced like AFM means Atomic Force Microscopy and moves a minuscule cantilever over an objects surface, a sharp tip passes over dips or rises punched in the surface and reads out digital information. This technology is not going to slow down it is going to speed up and has to replace most existing forms of memory storage by virtue of capacity and size.

The future of nano-technology, these tiny/minute robots would need very small processors and most sure strained silicon could provide these.

The low share price is due to uncertainty as to when the cash will run out, but I don't think this will happen as cash is of 12 to 15M and NAV of 30p, and losses are going to drop on the next 3 month and we could have profits on the Q4 2004.

Latest news from the Chairman were" The Group remains confident that it is in a strong position within the outsourcing market, although the protection of its cash position is paramount.
With a broad product portfolio allowing the customer base to use IQE as a 'one stop shop', a large available production capacity and a strong balance sheet, the Board believes the Group will benefit strongly as the overall semiconductor industry recovers and will continue to strengthen its position as the leading outsource supplier of advanced wafer products to the sector. "

Nearly all the recent results have been encouraging. Q4 accounts are being completed (30th Dec 2002). IQE know where they stand, if things had got worse their would have been a trading statement by now, and with Amberwave (IQE's partner) increasing its Asian presence, this is a bullish trend and a good point to pick up the shares @ 4.25p

Intraday

5 month MA and Indicators

Latest broker recommendation at 36P, and the price falls to half that.
*scratches head*. Again.

Final Results

Strong financial performance and positive outlook reflect strength of growing IP portfolio

IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of advanced wafer products and wafer services to the semiconductor industry, announces its final results for the year ended 31 December 2015.

Financial highlights

Revenues up 2% to £114.0m :
Photonics sales up 28% to £16.0m
New revenue stream with license income of £8.0m
Growth tempered by 11% reduction in wireless sales to £79.5m
Adjusted* operating profit up 8% to £19.0m (reported operating profit up ~3x to £21.2m)
Reported profit after tax up more than 10x from £2.0m to £20.1m
Adjusted* diluted EPS up 7% to 2.6p (reported diluted EPS up 12x to 2.9p)
Cash generated from operations up 41% from £14.9m to £21.0m
Balance sheet leverage down 22% to £40.3m
Net debt down 26% to £23.2m
Deferred consideration down 17% to £17.1m
* Adjustment to operating profit and EPS reflect non-cash charges and exceptional items as detailed in note 4

Operational highlights

Further diversification of revenues, driven by significant growth in non-wireless sales, which now account for c.30% of revenues (2014: 20%):
Continued double digit growth in photonics revenues, with increasing adoption for a wide range of applications including data centres, consumer applications, industrial processes, and fibre to the premises. Market outlook and strong pipeline support continuing double digit growth.
First licensing income reflects new revenue stream, with a combination of upfront and recurring income. This was earned from licenses to Joint Ventures (JVs). License income in Q1 of 2016 of approximately £2m.
Growing portfolio of epitaxial IP, with over 100 patents and a rich pool of trade secrets for the design and manufacture of advanced semiconductors :
Direct engagement with multiple Tier 1 OEMs reflect the increasing importance of epitaxial IP as a key enabling technology within electronic systems;
Market dynamics also reflect the increasing focus on advanced semiconductor materials technologies, with US competitor acquired for 3.5x revenues.
Joint ventures established in the UK and Singapore for the development and commercialisation of advanced semiconductor technologies. The significance of this technology also recognised by the UK government with a £50m commitment in January 2016 to fund a Compound Semiconductor Applications Catapult in Cardiff, UK.
The growth in revenue was partially tempered by the widely reported weakness in the smartphone market, which was exacerbated by inventory adjustments. However, the outlook for wireless remains attractive with recent gains in market share, contract wins, and new product qualifications for base station applications.
Continued progress in other markets :
Activity in the power semiconductor market continues to intensify. IQE has secured a strong IP position with cREO technology providing freedom to operate in this highly attractive market.
Advanced solar making good progress in space applications, mitigating slow progress in the terrestrial market which has been hampered by macro-economics. Outlook remains positive.
InfraRed maintains its market leadership position and, as announced on 26th January 2016 won a $3.7m contract with a leading global substrate manufacturer which underpins its strong outlook for the coming year.

Bought some at 17.71p
Higher volume and rising lately, stronger order book 20 v 15


IQE are namechecked by Peel Hunt today as regards the ARM takeover (as well as ACSO and NCC which I also hold):

"Despite the recent economic and political uncertainty, we note that an all-cash deal has been agreed. We continue to believe that UK technology companies could be acquisition targets for large global companies looking to add intellectual property or customers (the deal rationale for Softbank in our view) and expect to see further M&A activity in the sector.

We could see near-term investor interest in other semiconductor names (eg IQE and Imagination Technologies); global leaders (eg GBGroup, NCC, Accesso); Internet of Things/virtual/augmented reality plays (eg Telit, Bango); or larger UK tech names with strong free cash flow and dividend (eg Micro Focus)."

Https://www.theguardian.com/business/marketforceslive/2016/jul/18/ftse-boosted-by-arm-takeover-as-analysts-look-for-further-deals

21.25pp +3.25p

A very bullish statement on a very well undervalued stock ( short's work ) a lot to move up now for an EPS of 2.80p+ only on a PE of 10 is 28p not counting growth and Tech for a better rating.............

IQE - Trading Statement
Significant growth in revenues and profits reflect increasing revenue diversification

The Group announces that it expects to deliver a significant increase in revenues and profits for the first half of 2016, compared with the same period in 2015 and continues to reduce its balance sheet leverage*.

Sales in the first half are expected to be at least 15% higher than H1 2015, with the business enjoying an increasing diversification of revenues.

Photonics continues to grow rapidly, and is expected to deliver a double digit rate of growth in the first half. It is widely accepted that the Photonics market will continue its rapid growth over the coming years as Vertical Cavity Lasers ("VCSEL") and Indium Phosphide Lasers ("InP") are increasingly adopted for a wide range of end market applications. These include consumer products, fibre optic communications, data centres and industrial processes.

License income from joint ventures is expected to be c.£3.5m for the half year, with both joint ventures making good progress.

Wireless and InfraRed sales are expected to show a slight year on year increase.

The depreciation of Sterling against the US Dollar due to Brexit occurred shortly before the end of the half year, and as a result the financial impact on the first half was limited (translated at average exchange rates). However, the balance sheet impact was more significant, with a presentational increase in both assets and liabilities (converted at spot rate). Despite this, the Group has continued to reduce its leverage* in both Sterling and US Dollar terms due to its strong cash generation. Deferred consideration for previous acquisitions will be completely eliminated by September 2016. Other than the impact of currency fluctuations, we do not see any material impact of the decision to exit the EU on our business or prospects.

The Group made good progress on new product development and qualifications during the half, strengthening its IP position, and re-enforcing a positive outlook. The Board remains confident that the Group is on track to achieve full year expectations.

Notice of Results
The Group will report its half year results for 2016 on 13 September 2016.

Dr Drew Nelson, Chief Executive of IQE, said:
"The growth in IQE's sales and profits reflect the increasing diversification of its revenues, the growing breadth of its end markets, and the strength of its IP portfolio. As a result, the Group's strong cash generation continues to de-leverage* its balance sheet, with the deferred consideration from previous acquisitions on track to be completely eliminated by the end of September.

The Group's continued diversification of revenues is improving its resilience to end market fluctuations and our Photonics business continues to deliver strong double digit growth driven by a range of emerging end markets which are primed for significant and sustainable growth.

Our joint ventures have progressed well and have delivered license income of £3.5m, whilst our Wireless and InfraRed businesses were stable, delivering slight increases in revenues.

With the progress being made on new product qualifications, further product developments and with increasing revenue diversity, we remain on track to achieve full year expectations."

Peel Hunt Buy 22.25 30.00 30.00 Retains

haven't held these for a long time, though i recollect it was profitable at the time
order book still looks strong

Three shares to buy after today’s updates? - By Motley Fool | Wed, 20th July 2016 - 13:16

The summer sun is bringing us flowers, insects... and plenty of company updates. Today we've had news from a very possible recovery prospect, plus a couple of nice-looking growth opportunities. But which is best?

Top telecoms?

TalkTalk Telecom Group (LSE:TALK) shares have had a tough 12 months, suffering a 43% fall to 221p. But that could well be overdone, with the shares now on a predicted P/E for the year to March 2017 of 15.6, dropping to 12.7 a year later. But what does today's first-quarter update reveal?

Despite a lower customer base, overall revenue has been flat, with corporate revenue up 7.5% and data revenue up 38.5%. The company expects full-year revenue to "grow modestly", and has reiterated its guidance of headline EBITDA of £320m-£360m. Debt is expected to keep falling, and the firm says its 2017 dividend should be at least in line with 2016's and covered by cash flow.

The dividend, forecast to yield 7%, does concern me as it wouldn't be covered by currently-forecast earnings per share, while net debt stood at £679m at year-end -- and I don't see that as optimum use of cash. But, with that low P/E valuation and EPS growth forecasts giving TalkTalk attractively low PEG valuations for this year and next, I think I do see a bargain here -- and very possibly a takeover target.

Electronics winner

Shares in Electrocomponents (LSE:ECM) climbed by more than 9% to 282p by midday, after the electronics and engineering distributor released an impressive first-quarter update. Although overall sales only grew by 1%, that did build on a stronger fourth quarter, and showed sales growth slanted towards Europe -- though Asian and North American sales are falling.

But is the firm's focus on Europe a risk in the post-Brexit world? All chief executive Lindsley Ruth had to say was that it's too early to tell, but the fall in the value of the pound should make the firm's exports more attractive and should provide a benefit to profits stated in Sterling. One to buy? There's some uncertainty here, but with the firm's undemanding P/E of 17.5 this year, dropping to 15.5 next, coupled with expected dividend yields of 4.5% and with EPS growth forecasts, it looks relatively safe for a growth stock.

Silicon success

Shares in IQE have had a rocky ride, losing 44% over the past five years. But a trading statement from the silicon wafer supplier this morning provided a 15% boost, taking the shares to 20.4p. Sales in the first half of the year are expected to be at least 15% higher than in the same half of 2015, with revenues coming from an increasingly diversified range of products and services.

Net debt is reducing thanks to strong cash generation, with £3.5m in license income from joint ventures expected to add to the pot in the half. Chief executive Dr Drew Nelson could barely have sounded more upbeat, telling us that "with the progress being made on new product qualifications, further product developments and with increasing revenue diversity, we remain on track to achieve full year expectations".

With the shares valued at a mere six times forecast earnings, and two years of EPS growth forecast to follow on from the previous three, IQE is my pick of the bunch here.
-------------------
Https://uk.finance.yahoo.com/news/three-shares-buy-today-updates-121644273.html

"Silicon success

Shares in IQE (LSE: IQE) have had a rocky ride, losing 44% over the past five years. But a trading statement from the silicon wafer supplier this morning provided a 15% boost, taking the shares to 20.4p. Sales in the first half of the year are expected to be at least 15% higher than in the same half of 2015, with revenues coming from an increasingly diversified range of products and services.

Net debt is reducing thanks to strong cash generation, with £3.5m in license income from joint ventures expected to add to the pot in the half. Chief executive Dr Drew Nelson could barely have sounded more upbeat, telling us that "with the progress being made on new product qualifications, further product developments and with increasing revenue diversity, we remain on track to achieve full year expectations".

With the shares valued at a mere six times forecast earnings, and two years of EPS growth forecast to follow on from the previous three, IQE is my pick of the bunch here."

IQE 24p + 2p +9.09%

good spot .... as you say, still doing well despite a rather soggy market ..... order book fairly balanced as opposed to yesterday when it was very strong indeed

23.875p +0.875p

A new push up after the end of week profit taking

Some are reckon share price very cheap on forecast.....

Edison go for 2.75p EPS this year, whereas Peel Hunt now forecast 3.02p EPS and N+1 Singer go for 2.9p EPS.

IQE/edison/research/report

Next year's forecasts have a slightly wider range:

Peel Hunt - 3.41p EPS
Edison - 3.16p EPS
N+1 Singer - 3.1p EPS

Closed position @ 22.776p there was still 9 days left on the T+15 I took on the 18th

a gain of 28.6% on a week work

Canaccord Genuity Buy 35.63 40.00 51.00 Reiterates

Trading Update - IQE REPORTS FINANCIAL PERFORMANCE IS ON TRACK TO EXCEED FULL YEAR EXPECTATIONS.

Released 07:00 14-Dec-2016.

Peel Hunt Hold 38.00 33.00 35.00 Downgrades

Rewards will flow for Mico Focus if HP deal works out

Herald Investment Management Limited < 5%

A new high @48.50p.

That will be 50p.