Any ideas why price has decreased so dramatically recently?

Brokers with Buy recos looks
encouraging......

Imagination Technologies Group PLC

FORECASTS 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Exane BNP Paribas
19-09-12 BUY 36.00 10.46 63.00 17.61
Singer Capital Markets Ltd
14-09-12 BUY 39.20 11.10 56.20 15.60
Canaccord Genuity Ltd
13-09-12 HOLD 14.40 17.00
Peel Hunt
11-09-12 BUY 46.13 12.52 58.90 16.20
Westhouse Securities
23-08-12 BUY
Numis Securities Ltd
21-06-12 BUY 14.60 21.10
Seymour Pierce [R]
01-05-12 UREV 38.40 11.00 54.00 15.40

2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 41.81 12.41 58.88 16.83
1 Month Change -1.45 0.13 -0.83 -0.04
3 Month Change -1.45 -0.39 0.65 -0.39


GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 1.10% 65.88% 35.62%
DPS % % %

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £33.50m £46.39m £64.69m
EBIT £27.69m £41.06m £62.96m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER 68.37x 41.22x 30.39x
PEG 62.04f 0.63f 0.85f
Net Asset Value PS 47.40p 80.84p 101.16p

IMAGINATION TECHNOLOGIES IMG

Lets put some prices to them
Brokers with Buy notes.

SP targets range from 695p to 750p.

Date Company Name Broker Rec. Price Old target price New target price Notes

14 Sep Imagination... Peel Hunt Buy 524.00 730.00 730.00 Reiterates
14 Sep Imagination... Jefferies International Buy 524.00 724.00 724.00 Retains
13 Sep Imagination... Exane BNP Paribas Outperform 524.00 750.00 750.00 Reiterates
13 Sep Imagination... Investec Buy 524.00 695.00 695.00 Retains

NORWICH & PETERBOROUGH BUILDING SOCIETY

Added another chunk. The lauch of that metal thingy today should boost sentiment for this stock.

http://www.independent.co.uk/news/people/profiles/hossein-yassaie-meet-the-man-with-the-big-imagination-8160782.html

Few FTSE 100 bosses will be keener than Hossein Yassaie to follow today's launch of Apple's iPhone5 as it goes on sale in stores in America, Britain and seven other countries. As chief executive of Imagination Technologies, Mr Yassaie has played an integral role in the development of the iPhone, as his company designs the graphic-processor units that help to drive the dynamic display on the screen. And if iPhone5 turns out to be a record-breaker, as expected, Imagination will benefit in royalty revenues.

Just don't expect the self-effacing, Iranian-born boss of Imagination to talk about it. Over a relaxed lunch in a central London hotel, he politely bats away questions about Apple, his most celebrated client. He won't even discuss whether he ever met Steve Jobs, although he concedes he enjoyed reading Walter Issacson's biography of the late Apple founder.

As Imagination's chief executive for 14 years, Mr Yassaie knows it pays to be discreet, especially when Apple is one of its biggest shareholders, with a stake of almost 9 per cent.

The fact that virtually all his clients demand discretion may be one of the reasons why Imagination isn't as well known as it should be. Yet this FTSE 250-listed company, with ambitions to join the FTSE 100 in the next few years, is a rare British technology success story.

Revenues rose 30 per cent to £127m last year as Imagination saw an increase in royalties from its chip and graphic designs, with pre-tax profits jumping 74 per cent to £28.5m.

Mr Yassaie is convinced the best is yet to come, especially as graphic-processing technology improves. "There is no limit," he says. "We still haven't got to the point where graphics look like reality."

There are so many other opportunities as "the internet of things" becomes a reality, he explains. Virtually everything in our lives – from the TV set to the car, from central heating to healthcare – is becoming "smart" and connected to the mobile web.

Imagination also owns the digital radio business Pure, which sells sets directly to consumers and gives another insight into our changing behaviour.

Mr Yassaie says his aim for Imagination to enter the FTSE 100 – it is currently about 130th in size – is achievable. Key to that is his ambitious target of one billion in annual shipments of its chip and graphic technology by 2016.

Growth depends in part on the wider macro-environment and Mr Yassaie certainly feels that Britain and, importantly, the Government, doesn't rate our tech industry as much as it should. "Not everyone gets super- excited about electronics," he says. "We want people to get involved like they are in art, music and acting. It would be good to have the same thing around technology.

"Most people wouldn't realise the huge number of companies that are shipping products with British technology – it's good to make that known," he adds, referring not only to Imagination but other companies such as FTSE 100 chip designer Arm.

For Mr Yassaie, government can help both in terms of the economy and the wider eco-system. "I'm a great believer in reducing the deficit," he says. "But I would certainly expect that once the recession is under control that there is more needed from the Government. Within the constraints that they have, they're doing quite a lot, but I'll always be asking for more." Taper tax relief for staff who hold shares in Imagination for the long term is top of his wish list.

Britain should also do much more to encourage young people to study computer science and electronics. Imagination, based in Kings Langley in Hertfordshire, looks to hire at least 100 graduate trainees a year so he wants UK universities to do more to produce world-class talent. "These guys need to be the best in the industry," says Mr Yassaie, whose company employs more than 1,200 in offices including Bristol, Cheps ...Read Full Message More View thread 1

Good link that G/F thanks, have printed it off and will read later.

IMG Imagination Technologies

Broker brief.....

21 Sep Imagination... IMG Exane BNP Paribas Outperform 533.00 511.50 750.00 750.00 Reiterates

750p SP Target.

Wonder if this is still on??.
Missed it on that date.

Imagination Technologies Ltd (IMG)Sep 08, 2012Analyst Comment by KBC Peel Hunt

Keep an eye on shares in Edinburgh based chip maker Wolfson Microelectronics this week after Peel Hunt analysts Alexandra Jarvis and Paul Morland predicted that "brutal" competition within the electronics sector could lead to further consolidation and tipped Samsung to buy Wolfson and Apple to buy Imagination Technologies. Wolfson’s shares rebounded last week following a dip when Samsung, one of its biggest customers, lost a patent battle with Apple in California.

Possibly I suppose and Apple have plenty £s in hand as we know, but my record of predicting takeovers is well, shall we say.. worst then useless -): so anything I may say on this thread about takeovers from now on must be taken with a lorry load of salt!

A bargain 350p.

Another case of sell on the news perhaps? News being the Trading Update.

I soooo hate this pile of shite

You got some of these then Dil?

Shopping alert http://www.moneyam.com/action/news/showArticle?id=4478503

Nice word - 'Accretive".

Yes Skinny there very innovational down at Imagination these days -):

From post 95, I'd say Dil is very 'innovational' about these! :-)

Yeah, strange comment that , maybe he's lost money on them in the past.

I like it.

IMG to buy the mips business and 82 of the 580 patent properties for approx $60m.

the remaining 498 patents to be bought by a consortium (which includes ARM) for approx $350m, which will happen before mips is acquired by img.

so IMG will buy $350m in cash and the mips business for a cost of $60m.

basically MIPS will be carved up to provide some much-needed consolidation in the marketplace and more importantly eliminate the spectre of patent litigation a-la samsung/apple.

plus all the rest of the RNS which can be read in the usual manner

BRIEF-Imagination Tech buys op business of MIPS Technologies06 Nov 2012 - 07:12

LONDON, Nov 6 (Reuters) - Imagination Technologies Group PLC : * Tech.plc - acquisition * Imagination buys mips technologies inc * For a cash consideration of US$60 million * Buys operating business,82 key patent properties and license rights for 498 mips' patent properties * Confident the acquisition will accelerate our growth in the substantial cpu ip market across many segments ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [IMG.L]))

MIPS Technologies Agrees to Sale of Patent Properties to AST and Acquisition by Imagination Technologies


SUNNYVALE, Calif., Nov. 6, 2012 (GLOBE NEWSWIRE) -- MIPS Technologies, Inc. (Nasdaq:MIPS), a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications, today announced it has entered into separate definitive agreements with Bridge Crossing LLC ("Bridge Crossing"), an acquisition vehicle of Allied Security Trust ("AST"), and Imagination Technologies Group plc (LSE:IMG) ("Imagination") with net proceeds of approximately $7.31 per share in cash to each holder of MIPS common stock. The total value of the transaction represents a 40% premium to the closing price on April 11, 2012, the day prior to the first public rumor of a potential sale of MIPS.

Bridge Crossing will acquire 498 of MIPS' total 580 patent assets for gross proceeds of $350 million. MIPS will retain the remaining 82 patent properties that are directly relevant and key to the MIPS architecture, and will also be granted a royalty-free, perpetual license under all of the patent properties sold to Bridge Crossing. MIPS will also provide a restricted license to Bridge Crossing under the 82 retained patent properties. Subject to consummation of the Bridge Crossing transaction, Imagination will acquire the operating business of MIPS, the 82 aforementioned patent properties, and license rights to all of the remaining patent properties of MIPS for $60 million.

Both transactions are subject to customary closing conditions, including the approval of MIPS' shareholders, who will vote separately on each of the transactions. Approval of the Bridge Crossing transaction is not subject to shareholder approval of the Imagination acquisition. The proceeds of the transactions, which are subject to a holdback of approximately $100 million to cover tax and other liabilities, will be distributed to MIPS shareholders on a pro-rata basis through a recapitalization of MIPS common stock.

"After a thorough review of a wide range of alternatives to enhance shareholder value, our Board of Directors concluded that the best alternative for the Company would be the sale of patent properties to a consortium formed by AST, and a sale of the Company to Imagination. Importantly, as part of Imagination, the MIPS architecture will continue to be supported, and protected by MIPS patents. This highly successful outcome builds upon the rich heritage of the MIPS processor architecture, while effectively monetizing the Company's valuable patent portfolio," said Sandeep Vij, CEO of MIPS.

Mr. Vij continued, "By combining the technologies and skills of MIPS and Imagination, a leading multimedia, communications and embedded processor technology company, we believe that we can together create a powerful, well-differentiated and highly influential alternative to existing CPUs in the market. The move is highly strategic and presents clear benefits to MIPS' customers, employees, and partners."

According to Hossein Yassaie, CEO, Imagination Technologies, "The MIPS architecture is widely respected, and is complementary to Imagination's existing CPU capabilities. I believe that this proposed transaction will be welcomed by both companies' customers, including our mutual partners, and by the electronics industry at large. Post deal closure, Imagination will continue to support and expand the MIPS architecture and ecosystem, with the combined effort aiming to create a new industry-leading force in CPU development and licensing."

The sale of the MIPS patent properties has been unanimously approved by the Board of Directors of MIPS and by the CEO of Bridge Crossing, and is subject to customary closing conditions, including the approval of MIPS' shareholders, voting separately from approval of the sale of the Company to Imagination, and not conditioned on the approval or consummation of that sale. The subsequent sale of the Company has been unanimously approved by the Boards of Directors of MIPS and Imagination, and is subject to customary closing conditions, including the separate approval of MIPS' shareholders and consummation of the Bridge Crossing patent property sale. Neither transaction is subject to any financing condition. Bridge Crossing has deposited the full amount of the purchase price into an escrow account to fund the patent property sale transaction. MIPS anticipates that the transactions will close within Q1 CY2013.

J.P. Morgan is acting as exclusive financial advisor; Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor; and Ocean Tomo is acting as intellectual property advisor to MIPS. Fenwick & West LLP and Morrison & Foerster LLC are acting as legal advisors to AST. Jefferies is acting as exclusive financial advisor, and DLA Piper LLP is acting as legal advisor to Imagination.

To read Imagination's press announcement about the proposed acquisition, issued separately today by Imagination, please visit http://www.imgtec.com/corporate/newsdetail.asp?NewsID=700.

http://www.nasdaq.com/article/mips-technologies-agrees-to-sale-of-patent-properties-to-ast-and-acquisition-by-imagination-technol-20121106-00030