Recommended as a sell and maybe buy back in the autumn in Shares Magazine. Seems to be going up nicely on fairly large volumes ahead of interims on Wednesday (18.8.04). Does anybody know much about this company??

IQE unit wins US outsourcing contract worth 25 mln usd over 2 yrs in revenues
AFX


LONDON (AFX) - IQE PLC's North American unit IQE Inc said it has won an outsourcing contract to supply a North American RF component manufacturer with epitaxial materials, worth 25 mln usd in revenues over the initial two year period.

IQE unit wins US outsourcing contract worth 25 mln usd over 2 yrs UPDATE
AFX


(Updates with further details on contract)

LONDON (AFX) - IQE PLC's North American unit IQE Inc said it has won an outsourcing contract to supply a North American RF component manufacturer with epitaxial materials, worth 25 mln usd in revenues over an initial two year period.

The company said the agreement is effective from Nov 1, and is for a minimum of two years, renewable annually thereafter.

IQE said the agreement means its IQE site in Bethlehem will supply more than 90 pct of the RF component manufacturer's anticipated demand for RF wafer products, which are used in mobile handsets.

It added that as a result of this agreement, the RF component manufacturer will cease manufacturing wafers at its own site.

Just 3m profit here on a PE of 30 (low for a growth tech - look at ARM etc) gives mcap of 90M, so 30p+ a share.

Also, looking at the 5 year chart, we could have a nice long saucer formation back to 1+ over 24 months IMO.

Well called again Sue.

2 Million BUY has come through at 11.61 pence....EVO who are the house broker of IQE filled that buy.

500,000 T BUY has also come through at 11.50 pence today - someone left an order with an MM to purchase 500,000 shares at a price of 11.50 pence.

Thanks John...best of luck.

she we hold onto these

spread is now 10.75-11.75

Nobody has sold today other than two people. That answers my question

Heres to the recovery, thanks shares mag for bringing this one to my attention even though you said sell. Hope the price holds 2morrow. Long term the prospects look very good.

SUE HELEN DO YOU THINK WE WILL GET SOME MOMENTUM GOING INTO NEXT WEEK

O yes thesaurus.

Price closed at intraday high of 11.50-12.00 pence today, up 34.30%.

4 million T buy trade at 11.42 pence
2 million buy at 11.61 pence
500,000 T buy at 11.50 pence

I reckon someone has bought 6.50 million shares today hence the price was stuck the way it was. Big buy order.

The 500,000 O trade reported at 11.50 pence towards close was from an hour ago and is definite sell..trades for O type trades over 450,000 shares are delayed in reporting by 1 hour.

Evolution Beeson Gregory (EVO) the house broker has produced another note today with an increase price target of 15 pence. Will post the note if I can get hold of it.

Excellent Volume today - 16,358,434 - 256 Trades.

You say the price was "stuck the way it was". So once this sorts itself out what kind of price are we looking at over the next 2-4 weeks

thesaurus:


SueHelen - 04 Nov'04 - 11:22 - 121 of 137 edit



Well done everyone for sticking through the last few weeks - did say something was brewing with all those large buys at the 9.00 pence area. 17-20 pence is the next stop.

A 500,000 O buy trade came through around 5.05pm from 4.05pm at a price of 11.477 pence. Definetely a buy from when the offer price was at 11.50 pence.

From Bloomberg, USA, tonight.........


U.K. Stocks
Nov. 4 (Bloomberg)

IQE Plc (IQE LN) rose 3 pence, or 34 percent, to a six-month high of 11.75 pence. The company, which manufactures wafers used to make silicon chips, won a $25-million contract to provide an unidentified U.S. company with components for mobile-phone handsets.


Bloomberg
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Press Mention : will appear in tomorrow's Daily Mail Newspaper.

Beyond the Footsie: Thursday close
4 November 2004, This Is Money

SMALL caps spiked higher in the last moments of trading, as wider positive market sentiment offset a raft of profit warnings. By the close, the FTSE SmallCap Index was 0.6 higher at 2,625.0.

News of a $25m US contract pushed chip materials manufacturer IQE up 3p at 11.75p.

http://www.thisismoney.com/20041104/nm84322.html

Press Mentions have started coming and US Markets look in tip-top shape tonight :

"positive market sentiment"