pkaa
04 Jun 2018
Re: Excellent AGM statement today I assume what happened was that priority was given last year by IQE to the manufacture of wafers for VCSELs, in order to meet demand from the new iPhone X, which meant fewer wafers for wireless were manufactured than usual, so IQE's stocks in its manufacturing facilities of wireless wafers reduced. That is now being made up for by manufacturing proportionately more wireless wafers than usual in the first half of this year. I don't think this is anything to worry about, but it might reduce profits in the first half of this year because wireless wafers have lower price margins than VCSEL wafers. There are new reactors being commissioned at present which will be used to ramp-up the manufacture of VCSEL wafers in the second half of this year, ready for the anticipated increasing demand in the autumn for new mobile phone models that will contain VCSELs.
Stoater
04 Jun 2018
Re: Excellent AGM statement today I read re-stocking as being much better than de-stocking, if we are re-stocking we are replacing items that have left the factory.....what's not to like about that?
seadoc
04 Jun 2018
Re: Excellent AGM statement today Gretel,Strong? well good in parts, like the curate's (or Hyper's) egg.....to replenish wireless inventory channels which had been depleted as a consequence of the rapid ramp of VCSELs ...Where is the bespoke service?"IQE uses advanced crystal growth technology (epitaxy) to manufacture and supply bespoke semiconductor wafers 'epi]wafers' to the major chip manufacturing companies, who then use these wafers to make the chips which form the key components of virtually all high technology systems. IQE is unique in being able to supply wafers using all of the leading crystal growth technology platforms."[link] a bit like the last profit warning about "de-stocking". I maintain (most of) my short position.Regards,SeadocPS to ws, I seem to remember someone made a similar comment about 'no comment on financial performance' on the destocking RNS, it was a few years back and I cannot find it but here is a reference in 2014 interims:gThe Group has again demonstrated the resilience of its business model through the delivery of continued growth in profitability despite the lower than expected revenues resulting from adverse effects of a significant inventory correction in the wireless industry and the translational effect of a strengthening of the sterling exchange rate against the US Dollar."[link]
gretel
04 Jun 2018
N+1 Singer: Buy with 181p target N+1 Singer retain their Buy and 181p target price this morning.They summarise:"IQE’s AGM statement confirms that 2018 has progressed to plan so far. The expected rebalancing of wafer volumes towards Wireless in the first half has occurred, with over 10 new VCSEL chip manufacturers in qualification, supporting the expectation of a further Photonics ramp-up in H2’18.We are encouraged to see that commissioning on the new Newport Foundry is progressing to plan and that the new technologies portfolio appears to be gaining traction. We believe that GaN on Silicon and NanoImprint Lithography represent particularly interesting opportunities for the group.IQE is expected to be strongly H2 weighted, with the expected ramp-up of Photonics in H2’18 and into FY’19 key to our positive stance. We continue to expect further positive news flow as the year progresses and remain supportive."
Hyperproject
04 Jun 2018
Egg Good Morning All, about nine months ago I forcast IQE to be at least 150p by the end of June 2018, I am hoping not to have egg all over my face, just a few weeks to go. I have been waiting with anticipation for this key AGM, I am of the opinion that this is a milestone moment in their product development and sales.
soi
04 Jun 2018
Re: IQE trades 107.9 share buy.Just after a scalp profit.................................114.47 sold + 6 % good enough for me.Buy back when it drops againATBsoi
winningstreak
04 Jun 2018
Re: Excellent AGM statement today I would have liked to see some mention of financial performancein the AGM statement.ws
gretel
04 Jun 2018
Excellent AGM statement today A strong AGM statement just issued:[link] plc (AIM: IQE, "IQE" or the "Group"
the leading global supplier of advanced semiconductor wafer products and services to the semiconductor industry, announces that at its Annual General Meeting which will be held at 11
0 today, Godfrey Ainsworth, Executive Chairman of IQE will make the following statement:“In our 2017 results announcement and Annual Report and Accounts, we stated that we would use H1 2018 to replenish wireless inventory channels which had been depleted as a consequence of the rapid ramp of VCSELs in H2 2017 and that photonics capacity would be released to qualify multiple other customers for VCSELs in H1 2018. We are pleased to confirm strong wireless activity and that we are actively engaged in VCSEL qualification programmes with over 10 additional key VCSEL chip manufacturers, which are progressing in line with the board’s expectations. We confirm our guidance for a 40:60 revenue split H1:H2 2018, with a shift back from wireless to photonics as we enter H2 2018.“The commissioning of the new Newport Foundry is progressing to plan, with the first five reactors now all on site and in various stages of acceptance testing, commissioning and qualification. The second five reactors are expected to be delivered on site commencing Q3 2018, with acceptance testing, commissioning and qualification during the rermainder of 2018.“Our new technologies portfolio, including GaN on Silicon, NanoImprint Lithography (NIL), Crystalline Rare Earth Oxide (cREO), and Quasi Photonic Crystals (QPC), is rapidly gaining strong traction and engagement with key customers around the globe for a wide variety of high volume applications.”“On the Corporate front, following the tragic death of Mr Phillip Rasmussen ACA, the Group’s CFO in April, 2018, the Board appointed Dr Godfrey Ainsworth FCA, as Executive Chairman of the Group with immediate effect and he has been retained on a one year contract running to 31st March 2019. As previously announced, Dr Ainsworth will provide investor relations support to the CEO Dr Drew Nelson, and oversight to the Group Finance team, headed by Group Finance Director, Mr Neil Rummings ACA. The Board is also actively engaged with head-hunters to recruit a replacement permanent CFO. The Nominations Committee is also working to recruit an additional Non-executive Director who will take over the Chair of the Audit Committee, which in the interim period, is chaired by Sir Derek Jones. Dr Ainsworth has also indicated to the Board that once all candidates have been appointed to these roles, he will seek to retire at the end of his one year contract. Mr Phil Smith, former Chairman of Cisco who joined the board in December 2016, will become Non-executive Chairman on the retirement of Dr Ainsworth.” The Group will announce its Interim Results for the six months ended 30 June 2018 on Tuesday, 4th September 2018. An analyst briefing will be held later that day at a time and venue to be announced. "
pkaa
03 Jun 2018
Good post on ADVFN A poster on ADVFN called Siborz wrote on 2/6/2018:"I have been monitoring this board for over 12 months now and the thing that frustrates me most as Head of Finance for one of the largest global companies is the discussion around intangibles. The cash flow is very easy to understand and IQE are investing cash generation from operating activities in PPE [property, plant, and equipment] for future profits. I welcome the opinions from most people on here but recently I have seen some pointless comments. Let's stick to the facts and enjoy the gains to come."
eagle51
03 Jun 2018
Re: Is this Apple/Dialog Semi'r. news re... .........."And who would blame Apple for wanting to broaden their base of suppliers and reduce the risk of over exposure to any one?"......................I doubt Apple feel exposed to anyone,monty. Its annual output is bigger than that of many countries and will call the tune with all its suppliers. This is not to say Apple won't treat them with respect, but no liberties will be taken on pricing by key suppliers, whose accounts will be available for Apple to see and Apple will no doubt note if profits appear excessive. No problem for IQE. Plus the directors do their bit to keep profits available to pay to shareholders under control (these amount to 'nil' so far in IQE's life) by paying themselves a lot and taking multiples more in free shares for hitting soft targets. All imo of course.You say: "I'm surprised you'd not seen this before... age old news (6 months is a long time in tech) that's certainly been in the market uhhh for 6 months"...............which bits of: "I spotted this a while back" are you struggling with, monty?Of course it doesn't matter that Apple has seen fit to push so much in Finisar's (note the Company's correct name) direction to expand its VCSEL business - to acknowledge it as a threat goes against the grain and wouldn't make you popular. IQE can't fail - we all know that.imo/dyor
winningstreak
03 Jun 2018
Re: Is this Apple/Dialog Semi'r. news re... Whichever way you look at it, the long and short of the story is thatApple tosses $390million Finisar's way, for the expansion and perfectionof production of Finisar-made VCSEL wafers, on such a large scale that500 new jobs will be created. That is massive...is it not! And that is to curtail IQE's influence in the market... is it not!ws.
monty1965
02 Jun 2018
Re: Is this Apple/Dialog Semi'r. news re... I'm surprised you'd not seen this before... age old news (6 months is a long time in tech) that's certainly been in the market uhhh for 6 months. The big figure is indeed a large one, the devil's always in the detail, it obviously remains to be seen whether there will be an impact on IQE and over what time period the $390m gets expended and how. But as you say it has the ring of keeping Trump's America First campaigners happy. Perhaps of nearly as much interest is the statement "In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period." Doesn't look like they bought many off Finisair. That growth will accentuate as Apple converts its products to 3D sensing across the board, probably this year, phasing out old technology i.e. the new phones will all be based on iPhone X as will the new iPads. And who would blame Apple for wanting to broaden their base of suppliers and reduce the risk of over exposure to any one?
monty1965
02 Jun 2018
Re: per ardua and Monty - my apologies No problem whatsoever and thanks for your apology, more than happily accepted. Best wishesMONTY
eagle51
02 Jun 2018
Re: Is this Apple/Dialog Semi'r. news re... [link]
eagle51
02 Jun 2018
Re: Is this Apple/Dialog Semi'r. news releva... missmolly - you're so polite. Do you give lessons? 
I spotted this a while back but technology is beyond me and I forgot about it after responding to about 50 'hate' posts directed at me because I don't think IQE is a racing certainty.[link] would seem that Apple thinks the same way as Trump - America first. I'm sure I've read about VCSELs somewhere. Was it on here? I'm sure I read IQE has an invincible position. Not sure how it was dealt with in the 'risks assessment' section of IQE's accounts.I don't think IQE has anything to worry about, however. Finisar (a quoted US company with about 14,000 employees) may have Apple funding its R&D, but IQE has Newport Council.No contest.I should probably stick to numbers - I'm way out of my depth on technology because I didn't study medicine. imo/dyor
