Any ideas why price has decreased so dramatically recently?

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%.