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    AWE   GB00BNDRMJ14

ALPHAWAVE IP GROUP PLC

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Newly listed chip group Alphawave ups guidance after strong first half

09/21/2021 | 05:30am EDT

LONDON, Sept 21 (Reuters) - Canadian semiconductor technology company Alphawave raised its 2021 guidance on Tuesday after reporting strong demand for its connectivity solutions in its maiden results since it listed in London in May.

Shares in the company, which were priced at 410 pence in the public offer, rose 10% to 377 pence in early deals, giving it a market value of 2.5 billion pounds ($3.42 billion).

Executive Chairman John Lofton Holt said the share performance since listing reflected "pretty rough" markets for tech companies, but the company was confident the successful execution of its strategy would be reflected in the stock price.

Alphawave, which licenses its high-speed data transmission technology to five out of eight of the world's largest chipmakers, reported revenue of $27.6 million for the six months to end-June, up 140% year-on-year. Adjusted core earnings more than doubled to $13.9 million, with a margin of 50%.

It said it expected full-year revenue to exceed $75 million, representing over 125% growth and ahead of 100% guidance at the IPO, with its margin expected to increase to more than 55%.

Lofton Holt said Alphawave was the first to deploy its technology at seven, six and five nanometers, and last quarter was the first at four nanometers.

"Now we are looking at three nanometer and beyond with our semiconductor manufacturing partners TSMC and Samsung," he told reporters.

He said shortages in the semiconductor sector was more of an opportunity than a headwind, largely because the licences Alphawave were selling were for technology that would not go into production for several years.

"As a result of chip shortages, more countries and more companies are investing in new foundries," he said. "This investment in new foundry capacity is an opportunity for us."

($1 = 0.7310 pounds) (Editing by James Davey and Jane Merriman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHAWAVE IP GROUP PLC 4.45% 258 Delayed Quote.0.00%
SAMSUNG ELECTRONICS CO., LTD. 0.28% 70400 End-of-day quote.-13.09%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 0.67% 600 End-of-day quote.13.21%
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More news
Financials (USD)
Sales 2021 88,0 M - -
Net income 2021 28,2 M - -
Net cash 2021 508 M - -
P/E ratio 2021 98,1x
Yield 2021 -
Capitalization 2 359 M 2 362 M -
EV / Sales 2021 21,0x
EV / Sales 2022 13,2x
Nbr of Employees 132
Free-Float 50,8%
Chart ALPHAWAVE IP GROUP PLC
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Alphawave IP Group plc Technical Analysis Chart | AWE | GB00BNDRMJ14 | MarketScreener
Technical analysis trends ALPHAWAVE IP GROUP PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 4
Last Close Price 3,55 $
Average target price 6,39 $
Spread / Average Target 80,2%
EPS Revisions
Managers and Directors
Antonios Pialis President & Chief Executive Officer
Daniel Phillip Aharoni Chief Financial Officer
John Lofton Holt Executive Chairman
Jonathan Rogers Senior Vice President-Engineering & Board Observer
Rajeevan Mahadevan Senior Vice President-Operations & Board Observer
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