Any ideas why price has decreased so dramatically recently?

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.