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Pin to quick picksIrish Cont. Share News (ICGC)

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Share Price: 459.00
Bid: 450.00
Ask: 488.00
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Panmure says Focusrite should 'get lucky' on Daft Punk effect

Tue, 23rd Feb 2016 10:52

(ShareCast News) - Inspired by watching a documentary about helmet-wearing French electronic music duo Daft Punk, Panmure Gordon analyst George O'Connor issued a 'buy' recommendation on music technology group Focusrite. Panmure's price target for the AIM-listed company, whose ticker code is TUNE, was held at 217p, which offers more than 40% upside on Monday's closing price.Focusrite, which supplies hardware and software products used by professional and amateur musicians around the world, is well positioned in the electronic dance music (EDM) market, which has recently been the fastest-growing segment of the music industry, with Novation has been Focusrite's fastest growing division.Novation is an electronic instrument manufacturer, with the brand focused on allowing customers to make electronic music using synthesisers and computer-enabled technology.Although he issued a disclaimer that "I wear a cardigan", O'Connor walked though the rise and rise of Daft Punk based on their fusion of "elements of house music with funk, techno, disco, rock, and synthpop", climaxing with their 2013 huge global hit 'Get Lucky'.Also citing the 1977 collaboration on 'I Feel Love' between producer Giorgio Moroder and Donna Summer, and namechecking the Chemical Brothers, David Guetta and Calvin Harris, O'Connor said the BBC documentary noted that tools for EDM production include a computer, MIDI keyboard and mixer/sound recorder, with technology having heralded a "democratisation of music" via the bedroom music studio, and that it accelerated the process of "making music easy to make" both of which are mantras of Focusrite.Last year Novation grew sales 22.7% to £14.2m but, said O'Connor, getting down to business, Focusrite's current share price "does not reflect the opportunity: Focusrite offers a unique investment proposition".He noted that the shares have weakened in the general market pullback and the Daft Punk documentary was a reminder that now was a good time to revisit the investment case, given the current attractive discount to the global peer group, that is a price/earnings ratio of 18.6 times versus the sector's 12.8.
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5 Dec 2016 09:06

Focusrite appoints new CEO

(ShareCast News) - Focusrite, an AIM listed global music and audio products company, has appointed Timothy Paul Carroll as its new group executive officer. Carroll will assume his position on 3 January 2017 taking over from Dave Froker who is retiring at the end of December. Executive Chairman Phil

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5 Dec 2016 08:56

OneView suffers from low order intake

(ShareCast News) - OneView, an AIM-listed digital transformation software providers for in-store customer sales and service, recorded a fall in revenues due to poor order intake in the first half. These new business delays led to revenue falling to $1.20m in the first half ended 30 September 2016 fr

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22 Nov 2016 12:51

Focusrite improves FY pre-tax profit, hikes total dividend

(ShareCast News) - Global music and audio products company Focusrite has posted an improved full-year pre-tax profit and hiked its total dividend. Executive chairman Phil Dudderidge said the company had enjoyed an excellent second year of trading as a public company. "We have continued to grow reve

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16 Nov 2016 11:28

LightwaveRF raises £1m at discount, offers investors same terms

(ShareCast News) - LightwaveRF raised £1m at a big discount to its recent high as it looks to build its sales efforts on the back of last week's news its 'smart home' products could be controlled via Amazon's Echo voice control device. After its shares shot up close to 23.5p on Tuesday, their highes

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10 Nov 2016 16:17

UK Earnings, Trading Statements Calendar - Next 7 Days

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10 Nov 2016 14:20

OneView Group warns on revenues ahead of interim results

(ShareCast News) - Digital retail transformation software provider OneView provided a trading update on Thursday, ahead of its interim results. The AIM-traded company said its focus in the first half was to work with existing large global retailers to get solutions live in their store estates with "

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10 Nov 2016 09:45

Amazon's Eco Alexa voice control to be used on LightwaveRF's products

(ShareCast News) - Amazon's Eco Alexa voice control is to be used on LightwaveRF's products, which enables users to remotely control light, heat, power and security through an application, on Thursday. Through its application, LightwaveRF can operate its range of devices or link to other platforms,

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7 Nov 2016 10:42

LightwaveRF receives additional order from Megaman

(ShareCast News) - LightwaveRF said it has received an additional order of £240,000 from Megaman, its UK electrical wholesale partner. The company said its total order book now stands at more than £1 million, including other orders received in the period. LightwaveRF is the Internet of Things provi

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19 Oct 2016 09:48

OneView warns on full-year revenue amid contract delays

(ShareCast News) - AIM-listed digital transformation software provider OneView warned on Wednesday that revenue for the current financial year is likely to be below market expectations due to contract delays. The company said that winning its first hosted customer in the UK was a pivotal event in th

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14 Oct 2016 08:32

LightwaveRF secures financing to conclude new product development

(ShareCast News) - Connected devices and internet-of-things platform provider LightwaveRF announced on Friday it has entered into an agreement with its principal shareholder, Committed Capital Financial Services, for a loan of £150,000. The AIM-traded firm said the loan is secured against anticipate

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30 Sep 2016 06:55

Irish Continental Says Sealift Charter Agreement Extended Another Year

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14 Sep 2016 12:43

Scarlett range pushes Focusrite revenues higher

(ShareCast News) - Global music and audio products company Focusrite updated the market on its full-year expectations on Wednesday, confirming it expects revenue for the year ending 31 August to be approximately £54m, following a strong performance in the second half. The AIM-traded firm had cash at

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4 Jul 2016 12:28

LightwaveRF pens deal with Tyman-owned ERA

(ShareCast News) - Internet of Things platform and connected device provider LightwaveRF announced on Monday that it has entered an agreement with an additional UK distributor - ERA Home Security. The AIM-traded firm said that under the terms of the agreement, ERA will become the LightwaveRF distrib

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3 Jun 2016 15:04

UK Dividends Calendar - Next 7 Days

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2 Jun 2016 12:42

Irish Continental receives high-speed vessel

(ShareCast News) - Irish Continental Group has taken delivery of the high-speed vessel "Westpac Express," which has subsequently chartered it to a US-government organisation, Military Sealift Command. The vessel has a gross tonnage of 8403 tonnes, passenger capacity of 900 and a car-carrying limit o

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