IQE is the leading global outsource supplier of customized epitaxial wafers to the semiconductor industry.

Their technology is of most advanced like AFM means Atomic Force Microscopy and moves a minuscule cantilever over an objects surface, a sharp tip passes over dips or rises punched in the surface and reads out digital information. This technology is not going to slow down it is going to speed up and has to replace most existing forms of memory storage by virtue of capacity and size.

The future of nano-technology, these tiny/minute robots would need very small processors and most sure strained silicon could provide these.

The low share price is due to uncertainty as to when the cash will run out, but I don't think this will happen as cash is of 12 to 15M and NAV of 30p, and losses are going to drop on the next 3 month and we could have profits on the Q4 2004.

Latest news from the Chairman were" The Group remains confident that it is in a strong position within the outsourcing market, although the protection of its cash position is paramount.
With a broad product portfolio allowing the customer base to use IQE as a 'one stop shop', a large available production capacity and a strong balance sheet, the Board believes the Group will benefit strongly as the overall semiconductor industry recovers and will continue to strengthen its position as the leading outsource supplier of advanced wafer products to the sector. "

Nearly all the recent results have been encouraging. Q4 accounts are being completed (30th Dec 2002). IQE know where they stand, if things had got worse their would have been a trading statement by now, and with Amberwave (IQE's partner) increasing its Asian presence, this is a bullish trend and a good point to pick up the shares @ 4.25p

Intraday

5 month MA and Indicators

Yet again we experience a SP drop following what appears to be relatively good news and ahead of results. Someone is making a pile of dosh from these regular ups and downs

The chart suddenly doesn't look too good.

On edit - it was looking like a doji, until after the auction.

I think on this occaasion we have the Russian situation affecting the market quite a bit.

Anticipation for results tomorrow is underwhelming!

Lets trust that we will be overwhelmed at close of play and moreover at 8.0am tomorrow.
Its been a bumpy road for us for some years now.

A late rally ahead of results tomorrow 24.375p

Yesterday's marked down was overdone on so many stocks, the MMs were playing around all day, no wonder today had to do the other way around

ha ha, panto posting on his identical twin brothers thread.

Joined at the hip.

Is it 24.25 or 23.75?

TOMORROW!

broker recommendations:

Date Broker name New price target
19-Mar-14 Canaccord Genuity 35.00p Reiteration
21-Jan-14 Canaccord Genuity 35.00p Reiteration
21-Jan-14 FinnCap 40.00p Reiteration
21-Jan-14 Espirito Santo Execution 35.00p Reiteration
21-Jan-14 Nplus1 Brewin 95.00p Reiteration

IQE EXPECTS FULL-YEAR REVENUES TO RISE ON STRONG SALES GROWTH

IQE, supplier of wafer products and services to the semiconductor industry, expects 2013 full-year revenue to rise 43 per cent to a record 126m on the back of sales growth.

Earnings before interest, tax, depreciation and amortisation (EBITDA) is anticipated to jump to £24.5m in the year ended December 31st 2013, from the prior year's £16.4m.

Adjusted fully diluted earnings per share is estimated to come to 2p, up 32% on 2012's 1.51p.

The group said during the period, it achieved strong progress in photonics through a contract with Philips, saw continued growth in infrared product and made headway on power and LED materials employing gallium nitride on Silicon technology.

The company's high conversion of operating profit into cash is expected to reduce net debt to below £35m at year end from £37.7m at the end of June.

Trading in the second half is tipped to show sequential growth, despite weak guidance for the fourth quarter of 2013 and first quarter of 2014 from a number of IQE's wireless customers, and a strengthening sterling/dollar exchange rate.

"We look forward to further increasing cash flows and earnings during the current year and beyond as we maintain our strong position in wireless and continue to leverage opportunities to exploit our products in other high-growth markets," said Chief Executive Drew Nelson.

IQE plc : Full Year Results

Financial highlights

Revenues up 44% to achieve new Group record of £126.8m (2012: £88.0m)

Includes £30.9m revenues from Kopin Wireless, acquired in January 2013

Adverse H2 currency impact as sterling appreciated 3% against US dollar

H2 wireless sales up 3% over H1 in constant currency

H2 photonic sales up 12% over H1 (in constant currency)

Adjusted* PBT up 51% to £13.0m from £8.6m (Reported PBT £5.2m)

Adjusted* fully diluted EPS up 43% to 2.00p from 1.40p (Reported fully diluted EPS 0.89p)

Cash inflow from operations before exceptional items* up 346% from £4.7m to £16.2m (Reported cash inflow from operations £12.8m)

Cash conversion before exceptional items** of 111% up from 51%

Net debt of £34.4m (opening net debt £15.5m) increased primarily due to £25m of debt to part fund the Kopin acquisition

* Adjustments to profits, cashflows and EPS reflect non-cash charges and exceptional items as detailed in note 3
** Conversion of adjusted operating profit into cash inflow from operations before exceptional items.

Operational highlights

Integration of Kopin Wireless, reflected in strong operational performance and major customer service awards

Reorganisation of business into market streams reflects confidence of strong growth in emerging markets and revenue diversification

Improved operational efficiency through benefit of synergies including sharing best practice, economies of scale

On track to secure elimination of duplicate overheads with consolidation of operations without any loss of capacity or technology, saving over £7m on an annualised basis

CPV commercialisation strategy strengthened by acquisition of Solar Junction Corp. (SJC) stake by strategic investor

Robust supply chain being established and qualification progressing well

Excellent progress on diversification strategy with new product developments and qualifications, including :

Major contract announced with Philips for VCSEL applications

New 150mm VCSEL product launched for high volume applications

Achievement of VCSEL speed performance and energy efficiency world records announced

Development of Silicon Photonics technology announced

World's first 150mm InSb product launched for infrared applications

Award winning 150mm GaN HEMT epi wafers on SiC launched for high power RF applications

Increasing engagement in Government sponsored technology programmes in USA, Europe and Asia

Good mornig Skinny - as a matter of interest how did you get that result - nothing showing on my stockwatch.

certainly reuters has it

I go straight to the horses mouth these days - LSE

Eps 2.09p

What about the differene in those broker prices in 884 above! One has a 95 p target. one wonders if they are referring to the same company, or are the others missing something !

35p would make me very happy

At the moment though, however good the results, it certainly is not being reflected in the price.

At this price it's going to be taken over, no brainer

N+1 Singer Buy 24.00 23.75 35.00 35.00 Retains

Finncap Buy 24.00 23.75 - - Retains

As far as I am concerned , the broker views on IQE don't make the slightest difference. For example, according to Hargreaves and Lansdowne, 4 of 5 brokers rate IQE as a strong buy. So where is the sense after yet another excellent result ?