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FT site has Citigroup at 4.15% as of 9th Feb 2024. Which is much lower than the RNS a few days earlier. I always think funds postion the % so it's always just above or below where they next want to move. Maybe they will sell out completely. My guess if they would want to go below 3% in one move if they are selling up. Which could also explain slight drop in the SP here. I do wonder who has been mopping up the Citigroup and the small sale of Canaccord shares? Perhaps multiple funds taking on some risk here.
GrowthmanPO - yes that's certainly been the pattern here in recent years.
I doubt it'll be any different this time and only expect growth to start building in the second half of 2024 at the earliest (if then/ever!)
All the posters writing excitedly about the recent small uptrend should perhaps remind themselves that this time last year the share price was double what it is now. That said, I do expect significantly better times lie ahead. Just not quite yet.
Interesting to look back and see how the SP improves coming into a results announcement, only for it to fall back heavily once released. Always tempting into selling into results, with the intention of buying back at a lower price, but never do!
Will we get the same again this year? Results expected May.
"In early 2024, we have seen, as expected, the continuation of the ongoing cyclical slowdown in the Semiconductor Manufacturing Equipment sector and we continue to expect conditions in this sector to improve as the year progresses."
My opinion is the sp dropped to 20p to allow volume trades. Both Citigroup and Canaccord took on shares likely knowing some would be sold on. Invesco likely threatened to dump the shares. Citigroup may now keep the 4-5% holding they have. Otherwise looking for a buyer. Overall there seems to be a positive vibe. Think IQE value share at 24p. Funds merely keeping it there for now. Pretty sure more good news will follow as year goes on.
Djframboise - you carry on labouring under that assumption then, as it obviously makes you happy.
Anyway genius, on 5/2, it did dip below 20. No-one mentioned end of day. Just your normal attempt at FUD.
My last purchase at 19.82 was on 16/1 so yes timescales a bit longer but direction of travel is upwards. I sold at 24.9 but kept my main holding. Will buy more if it drifts much lower
Still looks like an attempt at FUD from you. Would be for for the course.
Djframboise - wrong on every count I'm afraid.
1) The last time IQE closed below 20p was just under a month ago. Check it out on Google if you don't believe me.
2) You've no way of knowing why the price has drifted back over the past couple of days as my post highlighted (again, look on Google if you don't believe me). It might be down to selling. It might be something completely different. So equally, you've no idea whether or not we'll soon see another rise.
Apart from that your analysis is spot on, so jolly well done.
Deliberate FUD from lordlollypop. SP was sub 20p just over a week ago so has seen a very decent rise. Once this selling is done, we'll see another rise.
Hawker - one problem with your theory - the share price HASN'T risen in the past couple of days. It's falling. Again.
RNS on Feb 12th confirming Citi are ongoing sellers, now down to 4.7% from 5.2%, looks like they may well close out their position and the good news is this is now happening into a rising share price and there are good size buyers around, onwards to 30p then…
Had confirmation from IQE the figures are right. 9m+ shares traded today with over 700 trades. Funds buying with confidence.
I merely compared their RNS on 22nd Jan to value on the Major Shareholders page. I have asked IQE the question.
Haven't seen any RNS from Canaccord since the one posted Jan 19th and would expect any changes to be posted given theor position is well above the 3% reporting thereshold or have I missed something? The main buyer I'm watching is Richsrd Griffiths as he's usually more nible than the insto fund managers. The trend is nack on the front foot at least, about time the sahres were tradign above the placing level of last May!
Canaccord have recently sold 8.5m shares between 22nd/31st Jan. Likely citi and them bought out Invesco and sold on shares to stop Invesco dumping shares on market. Citi may now keep the 5% left. Think funds are buying here still. The expectation of future good news
Thanks for the helpful link and update of the shareholder list Gotrader, Citigroup have actually been the big seller and Lombard and Canaccord/Marlborough have been the big buyers, I was also encouraged to re-read that the CEO acquired up to 1% of the shares too, late last year that was... New CEO and now CFO, both from Global Foundries, look forward to the next update as they should have something to say about developments in the rapidly growing AI space too, well let's see...
Good to see the shares getting a boost finally!
Nice to see it pushing toward 25p.
Https://www.iqep.com/investors/major-shareholders/
Will be from end of month. Citigroup the big new addition. Not sure if M and G investments were there before.
Gotrader - Unless others can corroborate that ADFVN poster's HQ meeting, we've no idea whether it ever happened. And even if it did, it's just one person's interpretation & hearsay of the status quo at IQE. Of course any CEO would give out positive signals in such circumstances. They're hardly likely to say the company they control is going down the pan, now are they?
But I'd question whether Lemos was sufficiently naive to grant a single private investor special access to company info (unless it's all already in the public domain, in which case it tells us nothing new anyway).
Said private investor has been hopelessly over-optimistic about IQE's prospects for several years now, so I'd personally suggest totally discounting this particular anecdote.
In terms of today's RNS - a) it relates to the 2019 LTIP & b) "There is no change to the Group's issued share capital as a result of the Block Admission". I agree though that incentive plans should only ever reward success, whereas IQE's often seem to recognise failure.
Thanks for the info re: Marlborough/Canaccord, hadn’t appreciated that. I’m not too worried about the employee share issue, it’s only 1.6% of the issued share capital and the key employees should be incentivised to help the company realise its potential in the compound space, but yes better that any such awards are tied to success and not just for turning up to work.
Volumes have been good at 20p. 3.75m last 2 days in large trades. 2x1m and 1x 1.75m. shows funds happily trading at 20p. Marlborough and Canaccord are same group. Just different parts of group holding the shares.
Griffiths has larger holding but pretty much loaned half of it out last week. Think Citigroup will clear. Look for more late trades appearing tomorrow am. Albeit very quiet today.
If you look on ADVFN someone there met the CEO who was super positive about IQE. How well it had done since new CEO. Likely lots of conversations being had in background. See what the American market brings for GAN. Real chance this share could rebound pending good news.
Not too happy about them diluting shares today. Issuing shares when bo money is being made.
Interesting to see Richard Griffiths adding to his position in IQE this past week, alongside Marlborough Fund Managers and Canaccord Genuity, the only seller seems to be Citi and they're now down to just over 5% and that could well get taken out by Mr Griffiths, he's usually a smart cookie and I'm happy 'following the smart money' on this one... Senior management team now comprises a CEO and CFO from Global Foundries, I'm watching this space with interest and have added a few more shares at 20p this past week.
Gotrader - a) the share price ISN'T holding at 20p & b) nobody cares about Citigroup or any other institutional holder.
They care about IQE's sales & profits. Which at the moment aren't anything like forthcoming enough.
Citigroup reduced by about 12m shares which is about same as large background trad aof last few days. 12.25m shares since Friday. Explains why sp holding at 20p.