Any ideas why price has decreased so dramatically recently?

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 These have now been withdrawn and revised estimates are awaited after the recent profit warning.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