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

With EPS of 2 p , the stock currently trades on about 11.5 times. Certainly seems low for a growth stock.

If you compare with other companies of similar ebitda profits, the Mkt cap here is way under valued, could easily be 35p and still look good value. I bought this for the growth prospects too, would have thought with so much in the pipeline the p/e would be quite high. Time for a re-rating - it happens! Suddenly it will go whoosh, Or taken over now by a much larger player, that would upset Blackrock. I fail to see any downside at present as BR closing their short will push it higher, I cannot imagine they would be thinking of increasing it further. P/e now around 11 so if the sp slips this is sure to get taken out.

This as well as QPP and SUMM are down.

Where is the sense in what is going on here. Down another half point ! You can understand if the results are not good, but by all normal criteria, they are stellar.

Not that I am overly surprised, but as many of you will be aware this is far from the first time for IQE. If there was a special medal for masochists, IQE holders should be the first to recieve them !

Do you wonder at it with Blackrock 4.87% and Ennismore 1.04% short, presumably these guys are making money on margin but they punish us PIs. I have been riding the ups and downs here for a long time (following Simon Thomson!) but this time I gave in selling up at 8.00 yesterday at small loss. Yes, I am looking to get back in again below 20p!

We need a really good bear squeeze to shake these blighters off the tree and the trigger for that has to come from the board by announcing some really uplifting news. perhaps some of are Welsh friends can get to the AGM and ask pointed questions?

When a company is clearly doing well, surely the more prosperous approach for these people will come from buying rather than selling !

I call it unfair manipulation.

And of course many would be buyers are therefore discouraged . Still, hopefully a reality check is not far off.

it's only unfair if you aren't on the same side :-)
there really is nothing at all unfair about shorting a stock, and when it goes wrong, it can also be pretty spectacular

QE - a leading global supplier of advanced semiconductor wafer products and services - has delivered the first 200mm (8") GaN on Silicon wafers into the Singapore-MIT low energy electronic systems (SMART-LEES) programme.

Conventional CMOS is now rapidly reaching fundamental limits of silicon performance despite the ever decreasing transistor linewidths and highly complex architectures being deployed by leading semiconductor companies globally. This has lead to many leading foundries and IDMs actively developing Compound Semiconductor on Silicon (CSoS) technologies in order to exploit the highly advantageous electronic, optical and power handling properties of Compound Semiconductors, whilst continuing to use the scale and cost structure of existing silicon semiconductor fabs. The SMART-LEES programme in Singapore is a $50m initiative, developing, among other technologies, a comprehensive array of CSoS technologies to facilitate complete monolithic integration of CMOS and Compound Semiconductor circuits, in a way that allows the processing of the wafers through conventional 200mm CMOS processing lines. In addition, design libraries will be developed to allow widespread adoption of these technologies across multiple end markets.

IQE plc : IQE Chosen as Key Supply Chain Partner for MACOM's Global Gallium

Agreement with IQE Enables MACOM to Deliver GaN Performance at 200mm Silicon Cost Structure

Cardiff, UK, 01 April 2014 - IQE plc (AIM: IQE; "IQE", "the Group") has entered an agreement with M/A-COM Technology Solutions Inc. ("MACOM"), a leading supplier of high performance RF, microwave, and millimeter wave products, to deliver Gallium Nitride on Silicon (GaN-on-Si) performance with 200mm silicon cost structure.

The agreement was announced last night by MACOM along with the introduction of an IP licensing program that will enable GaN insertion and large-scale production across the RF industry. As part of the licensing program, MACOM will make available its GaN-on-Si technology to select companies for use in RF applications.

Surety of supply is critical for high volume markets such as wireless basestations, estimated by ABI Research to represent more than 60% of the overall $1.2bn RF power market. As a first step in its licensing program, MACOM will license to IQE the ability to produce GaN-on-Si wafers utilizing MACOM's patent-protected technology. The agreement will enable MACOM to deliver GaN RF products with breakthrough bandwidth and efficiency at a mainstream 200mm silicon cost structure and will enable IQE to accelerate GaN penetration into key target markets.

Today IQE supplies more than 50% of the world's compound semiconductor epitaxial wafers for RF applications and is already well-established as the leading provider of GaN high electron mobility transistor (HEMT) wafers for RF, broadband, and military power amplifiers.

Transistors for these applications have historically been fabricated using 3 inch and/or 100mm silicon carbide substrates. To complement these products and increase market reach, IQE has developed and demonstrated growth of GaN HEMTs on industry standard silicon substrates at wafer diameters of 100mm, 150mm, and 200mm. This technology, along with the comprehensive IP portfolio licensed from MACOM, will enable tremendous economies of scale, wafer capacity, and cost structure needed to substantially advance the GaN market.

N+1 Singer cuts target price to 28p from 35p; rating buy

Canaccord Genuity Buy 24.50 23.25 35.00 35.00 Reiterates

Taking a long time to reach 35p.

That was posted on "fools day" but then Skinny is no fool.

Not a great market for investors at the moment.

IQE plc : Industry leader places record $1.0m InSb order with IQE's Infrared

Cardiff, UK, 16 April 2014 - IQE plc (AIM: IQE; "IQE", "the Group"), the leading manufacturer of advanced semiconductor wafers to the global semiconductor industry, has received its first $1 million purchase order agreement for InSb substrates which are used in advanced mid-wave infrared imaging technology.

IQE Infrared's US substrate division, Galaxy Compound Semiconductor Inc., has been contracted to deliver volume quantities of InSb substrates to an industry leader and long term customer of the Group. This represents the largest order to date for this new range of Infrared substrates.

InSb is the material of choice for mid-wavelength infrared (MWIR) imaging technology and cameras fabricated from InSb are used in a wide variety of advanced imaging applications (defence, security, medical and industrial). IQE infrared is uniquely positioned in this market and is the exclusive supplier of all InSb to industry, with IQE's US (Galaxy) and UK (Wafer Technology) operations collectively meeting the requirements of its customers to provide a secure, dual source supply of InSb substrates.

Thanks Skinny - we await the market reaction

A complete re rating is what is required, but still a point up is better than a point down !

Reaction is what we have grown to expect but I remain an optimist.