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Imagination Technologies rockets as Tsinghua buys 3% stake

Mon, 09th May 2016 09:50

(ShareCast News) - Shares in Imagination Technologies rocketed on Monday after it revealed Chinese state-backed conglomerate Tsinghua Unigroup International acquired a 3% stake in the London-listed chip designer.Tsinghua Unigroup, which is part of Tsinghua University and owns stakes in Western Digital Corp and Powertech Technology Inc, tried and failed to acquire US-based Micron Technology last year.Meanwhile, Apple confirmed back in March that it had held takeover talks with Imagination Technologies, which designs chips for the US tech giant.However, Apple said it did not plan to make an offer for Imagination.At 1140 BST, IMG shares were up 13% to 170.75p.Atif Latif, director of trading at Guardian Stockbrokers, said this was welcome news for IMG, which has recently suffered a tough time due to weakness in the overall sector."With the miss on Apple numbers recently, IMG has continued to weaken as a read-across but we still continue to see absolute upside given the discounted valuation the market currently prices in," he said.
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16 Dec 2014 11:13

Imagination Technologies impresses Investec with margin guidance

Imagination Technologies' shares surged on Tuesday after the chip company beat forecasts with its first-half results and impressed with its outlook, prompting positive comments from Investec. The broker said that the interim figures were slightly ahead of its expectations with group revenues down ju

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16 Dec 2014 10:39

UPDATE 1-Imagination Tech sees "significant" improvement ahead after profit fall

* H1 revenue falls a better-than-expected 3 pct * H1 adjusted pretax slumps 75 pct, reflecting higher investment * Shares up 12 pct (Adds CEO comments, analyst reaction, shares) By Paul Sandle LONDON, Dec 16 (Reuters) - Imagination Technologies, the British company that

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16 Dec 2014 07:57

Imagination Technologies H1 in line, sees much stronger H2

Graphics and video microchip maker Imagination Technologies posted lower first-half revenue and profits, but reported good first-half progress and said the second six months should be much stronger. Imagination, which makes chips for the likes of Fujitsu, Intel, Texas Instruments and Toshiba, said g

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16 Dec 2014 07:23

Imagination Tech sees better H2 after interim profit fall

LONDON, Dec 16 (Reuters) - Imagination Technologies, the British company that supplies graphics processing to Apple, reported a 75 percent drop in adjusted profit in the first half, reflecting heavy investment in its product line. The company said its now complete product line would help de

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15 Dec 2014 18:12

Tuesday preview: Chinese manufacturing data ahead

The flow of economic data will pick up considerably tomorrow, with a raft of figures on the state of the global manufacturing sector scheduled for release. First out of the blocks will be the preliminary reading for the HSBC/Markit Chinese manufacturing sector purchasing managers' index for the mont

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5 Nov 2014 08:22

Alent Says Trading In Line With Expectations; Taps New Chief Executive

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30 Oct 2014 09:34

UK BROKER RATINGS: HSBC Upgrades Next To Overweight From Neutral

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30 Oct 2014 08:36

Thursday broker round-up UPDATE

Afren: Deutsche Bank cuts target price from 130p to 110p retaining its hold recommendation. Antofagasta: JP Morgan lowers target price from 760p to 755p and reiterates a neutral rating. Investec lowers target price from 717p to 704p and keeps a hold recommendation. Balfour Beatty: Jefferies cuts ta

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29 Oct 2014 09:41

UK BROKER RATINGS: Charles Stanley And Nomura Cut Standard Chartered

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20 Oct 2014 13:52

Sector movers: Weak earnings from IBM weigh on UK tech stocks

Disappointing results from US tech titan IBM were weighing on hardware and equipment stocks this side of the Pond on Monday. IBM reported a profit of just two cents a share for the three months to 30 September, compared with $3.68 a year earlier, on revenues that declined to $22.4bn from $23.3bn. A

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20 Oct 2014 08:35

UK BROKER RATINGS: Rolls-Royce Hit By Price Target Cuts

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13 Oct 2014 08:25

BUZZ-ARM big faller as peers extend losses

** Chip designer ARM Holdings top faller on Britain's FTSE 100 on Monday, extending previous session's weakness which came on the heels of U.S. chipmaker Microchip Technology's sales warning. ** Microchip said quarter hurt by lower business activity in September, particularly in China. <

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22 Sep 2014 23:29

ARM CEO defends chip technology connected to Nvidia legal fight

By Noel Randewich SAN JOSE, Calif., Sept 22 (Reuters) - ARM Holdings Chief Executive Officer Simon Segars on Monday defended the British chip designer's smartphone graphics technology connected to a patent suit by Nvidia Corp against Samsung Electronics and Qualcomm. This month, Nvid

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19 Sep 2014 10:07

UK WINNERS & LOSERS: Scotland Boosts Banks But Mining Stocks Slump

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19 Sep 2014 07:23

UK MORNING BRIEFING: "No" Victory Gets Strong Yes Vote From Market

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