Re: Director sales/Trading Statement caesar,Not sure if that was directed at me but a good analogy, so who got the lucrative sponsorship, Usain or his coach? And Usain did win and paid his coach, but what is the total dividend paid out by IQE over the last 20 years? Give you a clue, the first figure is same as last and they are both very round!Despite owning, outright, 35m shares with (nil-cost) options on another 8m Drew has a pay package worth over £2m this year. He is clearly sensitive about this or would not have invested 14 pages (52-65) of AR 2016 justifying it. 67% of shareholders voted against the executive pay package but as you know such votes are not binding. If you are a shareholder did you vote for his pay or against? I no longer hold so do not get a vote, but perhaps at least morally a short counts as a vote against?Regards from a Grumpy Old Man,Seadoc ( of the order of GOM)
Re: Director sales/Trading Statement I appreciate that's not what you are saying in entirety, but to suggest that the board of just cannot provide cutting edge leadership because they are not all of a certain age is ludicrous.Unfortunately, some of the forces that temporarily sway a share price may agree with that hypothesis.However, those same forces, whist having a great influence on the same share price, will not directly affect the trading statement, whenever it may appear, in this or any other year, but the board of directors have, do and will.Usain Bolt needed to run very fast indeed, his coach did not need to himself, he just needed to know how to make someone else do so.
Re: Director sales/Trading Statement @missmollyI wouldnt get too bothered by the volatility. I think it is the nature of high growth opportunities. There will be times when some people believe the price has got ahead of the growth despite all the good news and decide to reduce their holdings.What I would say about the bigger picture is that I would rather be invested in companies that are aligned to high growth markets and are innovative, than companies serving the older established markets where there is little growth. In the former, the company development has the fair wind of market growth behind it and can grow to meet its valuation if it is overvalued. In the latter, theres no room for that so you are more reliant on having spotted an undervaluation because the growth in the market the company serves is not going to help the company develop. But each to their own and whatever works for anyone is fine. Theres no one best way to do this. As regards the trading update, again I would not fret about when it is coming. This time last year they did one, so it is reasonable to have thought they would do the same again. But I recall someone saying that they indicated at the time of the recent placing that they will do one before the year end. Doesnt matter to me if it is later in the month. Just stay alert as always for RNS news on all holdings.Too many posts from me today. (laid up with a cold). So no more for a while.
Re: Director sales/Trading Statement Mol,"What I don't understand is if IQE are so cutting edge and getting so much positive coverage, business and technical tie-ups to supply 'goods' to so many cutting edge technologies, why the SP has gone from 173 - 4th Dec to today 149.7 as I write. I guess you may say that they are over valued in the first place..."Yet another good question, can we form some sort of partnership, you ask Qs I will try to find As? You are right IQE is cutting edge, alas the directors are not. In general look for companies with a CEO in 40s even 50s. Rasmussen is key, if there were a clear out and he became top of greasy pole this becomes investable at the (probably kitchen sink) clearout price. I think the recent placing was interesting. I think the shares were sold to institutions (spivs) at 140p and soon sold on to PIs. The full report ?march 2018 should reveal how much institutional interest there remains.But before the roasting arrives I must agree that DS is right the potential is unbelievable, sadly so are the board.If I am wrong I might eat my hat but not my shorts, you are clearly braver than I.Regards,Seadoc
Re: Director sales @empiricalemThank you for those kind words. I dont claim any special insight here; just trying to separate out some of what I believe are the real salient points from the general noise.
Re: But there are no Director Sales toda... @chaosI look at the totals as being the important figures. Their holdings in total have increased from 11.02 to 11.55%.I may be wrong about which are the important figures. Someone else said that the breakdown reflects them lending out some shares. Ive no idea about that other than if you are lending them out, presumably for short traders, then you still need to have bought them in the first place.
Re: Director sales Just a word of thanks, really, Fordo, from one who doesn't post on here very often, but who really does appreciate it when he reads such words of comfort; and from someone who sounds as though he knows what he's talking about when it comes to such matters.We are merely at the beginning of the fourth industrial revolution and, as you, Dave Sweeney, Monty and others have so often pointed out, not only are the fundamentals of this company sound but they are currently way ahead of the curve with their technology.Keep the faith.
Re: Director sales/Trading Statement Hi Seadoc,Thanks for the education! Appreciated, I just about understand the concept that you have proposed.As regards the Trading Statement, it was the font of all IQE knowledge, Mr Dave Sweeney who wrote quite some time ago that there should be a trading statement this week (as there was one last year at the same date perhaps). Even the Torygraph expected it too apparently.I do have some IQE in an ISA with ii.I read all the ra ra bits about IQE and all the posters here.What I don't understand is if IQE are so cutting edge and getting so much positive coverage, business and technical tie-ups to supply 'goods' to so many cutting edge technologies, why the SP has gone from 173 - 4th Dec to today 149.7 as I write. I guess you may say that they are over valued in the first place...I do get fed up with all the good news stories only to see my investment decline day after day.And more fed up when a trading statement doesn't materialise when it's supposed to and don't know if there will be one.Good luck with your shorts on this, - I'm going to eat mine...
Re: But there are no Director Sales toda... I'm reading the reduction of voting rights from 10.4% to 9.69% (crossing a threshold and therefor a duty to report) as TRP selling shares. Have I misunderstood this?
Re: Director sales/Trading Statement Mol,I know you are relatively new to investing but you do seem to ask all the right questions. One day you may have a SIPP, ISA and a trading account. The old B&B sell and buy back next day at an agreed price was outlawed about 10 yrs ago. Now you can bed and ISA or bed and SIPP. That is sell at an agreed price and buy back at same price in the tax free wrapper for one dealing charge. Your broker will ask you which end of the trading range you would like to trade, generally you sell at bottom end to minimize cap gain and maximize the use of your exempt funds.With that in mind, if I were a director, I would look for a dip before sell and SIPP. So if you are right and there is a trading update about which the directors know then a sale and SIPP might suggest good news is due.With regard to a trading statement, it was predicted in the torygraph but not on Stockopedia, I would tend to believe Stocko but who knows.Having said all that I am actually short of IQE, have a fair value around 80p and "enterprise" value about half way between that and recent peak( 80+180/2) say 130 which is where I will close half of my short position.Keep asking the questions, I wish I had asked more when I was setting out,Regards,Seadoc
Re: But there are no Director Sales today!!!... It is an increase by TRP not a reduction. Need to look at the totals.
Re: Director sales/Trading Statement - a bit weird given trading statement next week. They will surely know the contents of the trading statement now - especially the FD - highly controversial if news is not good but why not sell after statement cos if good the price should improve ?So there is to be a trading statement next week?Please excuse my ignorance but where did you find this out? I was expecting it this week as a lot of others were.Mol
Re: Director sales To me the timing, for the second time, is not right. If it is simply a transfer it can be done anytime before the end of the tax year (I assume). -Perhaps its as simple as getting more bang for their buck? Im not fully appraised regarding their individual circumstances admittedly, however, assuming theres a financial limit to the value of the SIPP contribution, they might simply wish to shelter as many shares as possible before any rise brought about by a positive IMS. Of course, I may be just as equally mistaken. However, the timing doesnt strike me as especially peculiar at all. Respect to your healthy dose of scepticism though.Regards,
Re: Director sales Watch for a bounce from 148 to close above c160 at close on Friday - this would be a very positive support sign. Good opportunity to top up here. All the moaners that have have recently started posting have either sold and looking to push sp down or if they haven't sold then maybe they should if they can't stand the normal consolidation fluctuations. This is a great company with lots of further growth potential.
But there are no Director Sales today!!!! Why is everyone referring (presumably) to the 5th December RNS?The RNS today is nothing to do with directors sales, rather a reduction by T Rowe Associates.