Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
Been a bit quiet here. Lots going on. IQE back above 50-60p. March time was a great time to buy at 20p.
https://www.edisongroup.com/publication/record-revenues-in-h120-despite-pandemic/27682/
So predicted 3.9m profit this year and 12m next year based on record revenue. Albeit revenue in H2 predicted to be 15m lower than H1. What bugs me is they have much higher revenue than 2018 but profits are much lower.
I think the share has dipped slightly today as these numbers were mostly already accounted for. Edison has still upgraded it's rating albeit suggest IQE is at a premium compared to rest of market. Worth a read. To be fair Edison had not updated these numbers in a while.
The increased fixed cost is still a slight issue here. Albeit falling debt is good news but that seems to have a caveat attached.
Wait and see what happens to Apple's new iphone. Will it arrive on time?
No but I am sure Barclay number is theere or about that same number. Perhaps they removed the wrong one? Key change was Shroders who decided to ditch at least 2% of their holdings. Perhaps those daily 1M trades was actually Shroder?
They have updated the shareholders page.
Invesco (Oppenheimer Funds)
140,000,000 17.58
T Rowe Price International 76,109,436 - 9.56
Hargreaves Lansdown Asset Mgt 54,110,343 - 6.79
T Rowe Price 43,181,558 - 5.42
Dr Andrew W Nelson* - 36,140,417 - 4.54
Interactive Investor 31,283,164 - 3.93
Barclays Wealth 26,259,570 - 3.38
AXA Investment Mgrs 26,259,570 - 3.30
Barclays Wealth 25,259,857 - 3.17
* Per the Company’s RNS announcement of 11 May 2020, 12,121,711 Ordinary Shares of Dr Nelson’s total beneficial interest are subject to a Sale and Repurchase Agreement with Equities First Holdings
As of April 30th 2020.
No sign of Shroders? So maybe Barclays is a mistake? Does not look quite right unless Barclays now has 2 holdings?
IQE plc
RNS Reach
Cardiff, UK
6 May 2020
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading manufacturer of advanced semiconductor wafer products for the global semiconductor industry, is pleased to announce it has won a Gold Tier Award for exceptional performance and contributions to supply chain success in 2019 for BAE Systems' Electronic Systems sector.
BAE Systems provides some of the world's most advanced, technology-led defence, aerospace, and security solutions. Its Electronic Systems sector spans the commercial and defence electronics markets. IQE was selected out of more than 2,200 suppliers that worked with the sector in 2019.
BAE Systems' Partner 2 Win program is designed to achieve operational excellence and eliminate defects in its supply chain by raising the bar of performance expectations to meet the demand of current and future customers. As part of the programme, BAE Systems meets regularly with its suppliers at their locations to transfer best practices to ensure that the components and materials that compose BAE Systems products meet the highest quality standards.
Kim Cadorette, Vice President of Operations for BAE Systems' Electronic Systems sector, commented:
"We are proud to partner with companies - including IQE - committed to delivering the highest quality products on-time, every time. We look forward to continued collaboration and success."
Alan Fuller, IQE Director of Business Development, commented:
"IQE's epi-wafers provide the backbone for a myriad of electronics systems worldwide. We are honoured by this recognition of our overall performance in supporting BAE Systems. To receive this award for a second consecutive year is indicative of the very strong relationship we have with BAE Systems, of which we are very proud."
https://www.edisongroup.com/publication/short-term-resilience-long-term-growth/26700
Unsuprisingly they still see an upside here if IQE can demonstrate ability long term to make a proft.
They spent 4m+ on legal fees and are likely only to get back what they spent if the third party pays. Should boost figures for year. Albeit 35m loss after tax is a big figure to reverse. Quite a few one off costs in that. Edison gives adjusted loss of 7m for 2019.
Coronavirus
17 April 2020
Operations
Production continues at all of our global sites. Given the diversified nature of our global operations, operating conditions continue to differ across various sites, however the status remains unchanged from our most recent update:
United States: IQE’s sites remain operational given our status as a ‘critical infrastructure provider’. Nevertheless all members of staff are working from home as a default unless they are essential to production.
UK: As in the US, all members of UK staff who can work from home are doing so. Our sites are operating at minimal staffing levels and only where essential for production. In the past week, the UK Government has reiterated that, because manufacturing is a critical part of the economy, there are no restrictions being placed on it.
Asia Pacific: Taiwan and Singapore remain less impacted by the virus, so operations there are unaffected.
Market conditions
The smartphone handset market has seen the launch of new models from several OEMs in recent weeks. IQE remains actively engaged in supply chains for both wireless and photonics products for handsets, with good production levels being maintained.
The communications infrastructure market is showing signs of growth with economies emerging from lockdown likely to use 5G deployment as part of economic stimulus. There is already some evidence of this in Asian markets.
The market for products for military use continues to be strong with growing demand predominantly from the US defence contractors.
IQE continues to monitor risks of disruption at suppliers or customers due to COVID-19, with no issues identified this week.
FY 2019 results
As previously mentioned, IQE published a detailed trading update outlining its FY19 financial performance on 24 March following guidance from the FCA and FRC to delay announcements of Preliminary financial accounts. We continue to wait further guidance with regard to the timing of Full Year 2019 results.
Near-term outlook
There remains an increased risk to near-term demand and therefore revenues due to the impact of Coronavirus on the global economy. However, the total impact of these conditions and risks on IQE’s markets remains unquantifiable at this point in time.
Above all, ensuring the health and safety of our people remains our primary concern. Our business continuity sub-committee continues to monitor risk indicators and external guidance and is responding swiftly to this rapidly-evolving situation.
IQE is continuing to monitor the ongoing situation closely and will update this page on a weekly basis going forward.
Ennismore increased by 0.11% on 14th of April. They clearly thought 40p was too high. Does seem to be a general trend of shorters reducing. Then again 20-35p why wouldn't they? How much of the rise was due to shorters clearing? T Rowe Price have a lot less shares loaned out now.
See what 2019 results bring and if 2020 H1 figures are as reasonable as Tim Pullen suggests in his video. He seemed confident.
Anyone who bought below 20p could of doubled their money here.