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Time to dial into profit

It is fair to say that I am a fan of IQE (IQE: 35p), a global supplier of advanced wafer products to the semiconductor industry. I last advised buying the shares at 33p a month ago after the company announced the acquisition of the compound semiconductor epiwafer manufacturing business of Nasdaq-quoted Kopin Corporation (NAS: KOPN) ('A tech share worth buying', 10 January 2013). However, having had time to run through the numbers in greater detail and assess the earnings implications from that acquisition, I am firmly of the opinion that my target price of 38p-40p is far too conservative. Let me explain.

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By Simon Thompson,
13 February 2013

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Simon Thompson

Simon has managed the IC's company coverage for a decade. He's also the creator of the market-beating Bargain Portfolio, an influential stock-picker and the author of Trading Secrets: 20 hard and fast rules to beat the market.