IQE (IQE)

Business description

IQE is the leading supplier of epitaxial compound semiconductor wafers globally. The principal applications include radio frequency semiconductors, devices for optical networks, vertical cavity lasers, infrared semiconductors, power electronics and CPV solar cells.

Stock data

Market cap.£1205.3m
Last close159.50p
High / Low (52 weeks)178.8p / 37.5p
Stock market listingLN
Forecast net cash (£m)44.8
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(6.2)16.6355.7
Relative *(7.2)14.7319.1

* % Relative to local index

Other companies in sector Show

1Spatial 7digital Group
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON Algomizer
All for One Steeb AG Allocate Software
Allot Communications Alpha and Omega Semiconductor
Alphapoint Technology Inc Amazon
Amino Technologies ANADIGICS
appScatter Arria NLG
artec technologies AsiaCell
AT&S Austria Technologie & Systemtechnik Beta Systems
Blancco Technology Group blinkx
blur Group Brady
Bulletproof Group Carclo
Catapult Group International CENIT
CentralNic Cerillion
CityFibre Infrastructure Holdings Cliq Digital
CML Microsystems CoAssets
Comptel Covata
Craneware CREALOGIX Group
Cypress Semiconductor DATAGROUP
DDD Group Dillistone Group
door2door dotDigital
DSP Group e2v technologies
Eagle Eye Eckoh
Elmos Semiconductor EMIS Group
Emulex Endace
EnWave Corporation Epipoli
eServGlobal Esker
Evolving Systems EVR Holdings PLC
Expert System Facebook
Featurespace FFastFill
FinTech Group First Derivatives
First Sensor Focus Solutions Group
Foresight Autonomous Holdings FreeAgent
Freelancer Fusionex International
Gamma Communications GB Group
GBST Holdings GeoOp
GetBusy GFT
Globo GO internet
Himax Technologies Hrvatski Telekom
ifa systems ikeGPS Group
Infinera Inmarsat
Innovation Group InVision
IS Solutions ISRA VISION
IXYS Jenoptik
K3 Business Technology Kainos
Kalibrate Technologies Keywords Studios
Learning Technologies Group LRAD Corporation
Magix Manpower Software
Manx Telecom Manz
Max 21 Maxima Holdings
Medicsight Mensch & Maschine Software
Mercia Technologies Micro Focus International
Micron Technology Migme
Mobile ecosystems Monitise
Montage Technology Morse
mVISE My Net Fone
Mynaric Nano Dimension
Nanoco Group nearmap
Nemetschek Netcall
NetDimensions Netflix
Nexus Management O2Micro International
OMG OmniVision Technologies
Orion Health Group Osirium Technologies
Outsourcery Panorama Synergy
Pantaflix Patsystems
Paysafe Group Pebble Beach Systems Group
Pericom Semiconductor Phitek
Piteco PLX Technology
Pointer Telocation Pricer
Prodware PSI
Pure Wafer QSC
Real Estate Investar Group REALTECH
Redflex Holdings Redstone
Reed Elsevier Reply SpA
Results.com Rex Bionics
Rheinmetall RM
S&T SCISYS
Secunet Seeing Machines
Sepura Serko
Seven Principles Siemens
Sigma Designs Silicom
Silicon Image SimiGon
SinnerSchrader SITO Mobile
SLI Systems Smartpay Holdings
SNP Schneider-Neureither & Partner Software AG
Solera Solutions 30
Spansion Spirent Communications
SQS Software Quality Systems AG Stadium Group
StatPro Group Store Electronic Systems
Straker Translations SuperCom
Synchronica Taptica
Technology sector TerraNet
Texas Instruments The NAGA Group
Thin Film Electronics Thoughtonomy
Tikit Group Toumaz
Track Group TXT e-solutions
TZ Limited Ubisense Group
UMT United Mobility Technology United Power Technology
VASCO Data Security Vectron Systems
Virtual Piggy Vista Group International
Vitec Vizrt
VMob Group WANdisco
Webinar Wincor Nixdorf
WorkPlace Systems International XP Power
Xploite Xplore Technologies Corp
YuuZoo

Company news

Is IQE plc a millionaire-maker stock?

Tue, 28 Nov 2017 11:03:45 GMT

Investors snap up shares as semiconductor group IQE raises £95mln

Fri, 10 Nov 2017 09:22:30 GMT

Why I'd buy this small-cap growth share over IQE plc

Thu, 31 Aug 2017 15:00:00 GMT

Time to get greedy with IQE plc and Hurricane Energy plc?

Sat, 30 Sep 2017 11:37:30 GMT

Why I'd buy this hot growth stock over IQE plc

Mon, 20 Nov 2017 15:10:57 GMT

Investment summary

IQE has recently raised c £95m (gross) through a placing of 67.9m new shares at 140p/share. The funds will enable IQE to expand capacity to support multiple VCSEL volume ramp-ups from FY19 onwards. We expect the share issue to be earnings-neutral in the near term, and are encouraged by this signal of confidence from management as it prepares for the next step change in output.

Last updated on 13/12/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 114.0 29.0 17.6 2.60 61.3 50.4
2016A 132.7 31.7 20.6 3.00 53.2 47.7
2017E 145.3 35.5 23.7 3.26 48.9 38.1
2018E 160.3 40.3 28.3 3.57 44.7 36.9

Last updated on 12/12/2017

Latest video

Executive Interview - IQE

Industry outlook

The funds raised will be used to purchase an additional 40-60 new MOCVD reactors over the next three to five years (IQE currently has around one hundred, but these are used for a different mix of epitaxies). The reactors will be used to make epitaxy for multiple VCSEL programmes as they move into volume production. Towards the end of H117, IQE began to deliver volume VCSEL epitaxy, which we infer was for the new iPhone X. It is currently working on a range of programmes that have potential to become volume contracts in future. These include hand and body tracking, automotive applications, data comms and industrial applications such as heating, InP wafers for high-speed data networks and GaN wafers for radio frequency and power applications.

Last updated on 13/12/2017

Key management

Godfrey Ainsworth, Chairman
Drew Nelson, CEO
Phillip Rasmussen, FD

Company address

Pascal Close
St Mellons
Cardiff
CF3 0LW
United Kingdom
+44 (0) 2920 839 400
View website