Imagination Technologies’ recent financial performance ‘has been robust’

19Mar

Simon Bond

Category: Electronics News, Silicon South West

Chip designer Imagination Technologies has revealed that it has recorded plenty of positive points where its financial performance has been concerned in the past few months.

In fact, the organisation announced that its performance in this area had been “robust” in the first half of the current financial year.

This is made all the more impressive when taking note that the volatile nature of the economic climate at the moment is continuing to create uncertainty among Imagination Technologies’ customers.

What’s more, the chip designer revealed that the licensing pipeline remains very active, which could result in the firm’s overall performance for the current financial year being even more positive.

While being careful not to say too much about the outlook of Imagination Technologies in both the short- and long-terms, the firm’s chief executive, Hossein Yassaie, pointed out: "We continue to make good progress with volume ramp up across many of our existing technologies, as more of our licensees bring our latest technologies to market in increasing volumes.

“At the same time we are making the necessary investments in essential complementary technologies to fuel our continued long term growth.”
The news of Imagination Technologies’ recent financial performance comes as a number of stock market analysts readdressed the price target of the company’s shares.

For one, Barclays Capital upped its price target from $9.82 (approximately £6.49) to $10.57 in a recent research report which it sent out clients and investors.

Meanwhile, analysts based at Credit Suisse have opted to increase the price target of Imagination Technologies shares from $5.24 to $6.19, with Deutsche Bank analysts now setting a $9.06 price target for the same shares.

Finally, analysts at Canaccord Genuity opted to place a ‘hold’ rating on shares with Imagination Technologies, with its price target earmarked at $8.61.