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Imagination Technologies rockets as Tsinghua buys 3% stake

Mon, 09th May 2016 09:50

(ShareCast News) - Shares in Imagination Technologies rocketed on Monday after it revealed Chinese state-backed conglomerate Tsinghua Unigroup International acquired a 3% stake in the London-listed chip designer.Tsinghua Unigroup, which is part of Tsinghua University and owns stakes in Western Digital Corp and Powertech Technology Inc, tried and failed to acquire US-based Micron Technology last year.Meanwhile, Apple confirmed back in March that it had held takeover talks with Imagination Technologies, which designs chips for the US tech giant.However, Apple said it did not plan to make an offer for Imagination.At 1140 BST, IMG shares were up 13% to 170.75p.Atif Latif, director of trading at Guardian Stockbrokers, said this was welcome news for IMG, which has recently suffered a tough time due to weakness in the overall sector."With the miss on Apple numbers recently, IMG has continued to weaken as a read-across but we still continue to see absolute upside given the discounted valuation the market currently prices in," he said.
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25 Mar 2015 15:53

DIRECTOR DEALINGS: Imagination Tech Chairman Buys 35,000 Shares

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19 Mar 2015 15:59

Thursday broker round-up

Smiths Group: Charles Stanley downgrades to reduce while Nomura reiterates buy recommendation. Weir Group: Barclays reiterates equalweight and 1,700p target. Prudential: Barclays reiterates overweight and lifts target to 1,868p. Serco: Jefferies reiterates hold but trims target to 185p from 195p.

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19 Mar 2015 09:38

BROKER RATINGS SUMMARY: Morgan Stanley Raises Reckitt To Overweight

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18 Mar 2015 12:00

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18 Mar 2015 08:55

Imagination Technologies shares slump on poor licensing activity

Shares in Imagination Technologies dropped 12% to trade at 227p early Wednesday as investors expressed disappointment with the group's lull in licensing activity during the period from November 1 to March 17. Imagination, who provides graphics technology to Apple, described licensing activity as a "

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18 Mar 2015 08:53

UPDATE 1-Imagination Technology cuts licensing outlook on 'muted' demand

(Adds shares, analyst reaction) LONDON, March 18 (Reuters) - Imagination Technologies , which provides graphics technology to Apple has cut its outlook for licensing this year, saying activity had been a "little muted" since November, sending its shares down 14 percent. It had looked

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18 Mar 2015 08:20

LONDON MORNING BRIEFING: Standard Chartered Gains On Analyst Upgrades

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18 Mar 2015 07:53

Imagination Technologies Lowers Licence Expectations For Full Year

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18 Mar 2015 07:33

MARKET COMMENT: London Seen Higher Ahead Of UK Budget, Fed's Meeting

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18 Mar 2015 07:23

Imagination Tech sees licensing at about last year's level

LONDON, March 18 (Reuters) - Imagination Technologies , the company that provides graphics technology to Apple, said licensing activity had been a "little muted" since November, although its pipeline remained good and it saw its outcome in licensing at least the same as last year. "We curre

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18 Mar 2015 07:00

MARKET COMMENT: London Pointed Up With Main Focus On US Fed Decision

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18 Mar 2015 06:21

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MARKET COMMENT: FTSE 100 Outperforms As European, US Indices Retrace

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17 Mar 2015 16:06

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