Report
Anne Margaret Crow

Photonics – the next growth wave

IQE’s ability to apply its epitaxial IP to multiple market segments enabled it to deliver strong profit growth during H116 as the business continues to diversify revenues. This diversification is set to continue, with technology innovations delivering strong growth in photonics applications and taking IQE into new segments such as the high-growth power electronics market. We see scope for further upward re-rating driven by continued growth in photonics sales.
Underlying
IQE plc

IQE is a holding company. Through its subsidiaries, Co. is engaged in the development, manufacture and sale of semiconductor materials. Co.'s primary business is the manufacture of compound semiconductor wafers or epiwafers using a process called epitaxy. Co.'s primary reporting segments are: Wireless, which covers electronic devices that communicate wirelessly; Photonics, which covers applications that either emit or detect light; Infrared, which uses indium antimonide and gallium antimonide engineered materials that enable high resolution Infrared systems; and CMOS++, which combines the properties of compound semiconductors with silicon.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Anne Margaret Crow

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