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Hi Dave Sweeney - please could you respond to WS's point that IQE aren't making much profit? Or do you perhaps you believe that profit levels are going to rise significantly in the next few years?
Results didn't seem quite as positive as DAVY were implying by talking up SKG the other day ... in hindsight, looks like a pre-emptive strike to counter some of the negative sentiment around the results announcement today ... that said, results seem steady enough despite some drop in the Americas, some of which must be -ve currency movements. Also, div increased so must be a bit over 3% annualized now. Seems more like a hold than a buy though around these levels...
I might yet see that drop to 2.5p and have to buy some more - didn't expect that when I made my comment yesterday. The sell off is way overdone on the BMR suspension news in my opinion. Let's see how this plays out over the coming days. I wish CB would step aside and we had a credible face at the helm. WISEGUY - I agree with your sentiment whole heartedly. 2.5p next stop? who knows. I'm reaching for the brave pills. Could never have envisaged we could fall back in to this territory after the last 18 months work on the ground.
I see a further delay on the horizon.
Extract from Barclays Capital updated note yesterday for those asking for forward projections. AT £1.04, IQE trades on 23x/16x/13x 2018-20 P/E, multiples we consider very attractive given the 30%+ EPS growth forecast through the end of the decade. We reiterate our Overweight rating and £2.10 price target.
I was hoping the lloyds fall would continue towards 60p so I could top up ... I have a significant holding with a buy in at 52p, keeping hold for dividends, not too worried about short term share price moves. Lloyds continues to cut costs, PPI will eventually shake out, dividend only going one way.
I've topped up again this morning. Very difficult to see how this can do anything but go north. Once the auctions are completed (and assuming Plutus do well, which I'm sure they will), I think we'll then see the SP start to move. I think 2/3 years from now, we'll all regard this as one of our best investments.
I'd say management is arrogant and dismissive towards us PI's, forgetting that we've invested in their story to make money, which for the last 15 years they have not managed to achieve for us. Secondly if it wasn't for us this company, their pay checks, bonuses, bonus shares etc would not exist. I have said it before, management need to respect their shareholders or the market will punish the SP!
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