Telecoms

Telecoms equity research

Explore the most viewed and latest equity research and media content for companies within the Telecoms sector. Stocks in this sector provide telecoms services & equipment, and mobile services.

Telecoms equity research

Explore the most viewed and latest equity research and media content for companies within the Telecoms sector. Stocks in this sector provide telecoms services & equipment, and mobile services.

14 Aug 17

Panmure Morning Note 14-08-2017

Filtronic, the designer and manufacture of microwave electronics for the wireless telco market, has announced a second significant defence related contract (worth £4.8m of sales over three years). The deal highlights the success of the initial defence contract and further diversifies both the customer base and revenue profile (in terms of products).

Companies: Filtronic

03 Aug 17

Acquisition of education IT specialist Atomwide

For AdEPT the scale and quality of this acquisition is transformational. Atomwide is highly profitable and has the opportunity to extend its successful model outside the London area, particularly for schools and local authorities adopting the Multi Academy Trust (MAT) model. Incorporating the uplift to earnings and maintaining the same level of comparative differential with AdEPT’s AIM telecom peers leads us to raise our Target Price from 360p to 400p. Our rating remains Buy.

Companies: Adept Telecom

27 Jun 17

Machinations

We recently hosted our annual Industrial Technology dinner with 14 companies, many of which are active in the materials science arena; having focused previously on composite materials in the aerospace sector, in this edition of Machinations we focus on graphene, with its unique and potentially game-changing qualities and potential applications. Investments in this area remain fairly early stage, but could potentially reap huge rewards. Graphene is well represented in the UK small-cap market by several players.

Companies: SIXH ACL AXS AMPH ALU AEP AVG CAPD CAR FENR FLO RAD GHH HDD HAYT IOF MPE RE/ RED RNO RBN SOM SCE TRT TRI VANL ZAM

10 Aug 17

MelodyVR signs five music licensing agreements with European Rights Holders

MelodyVR, the leading creator of virtual reality content focused on the music industry and subsidiary of EVR Holdings, this morning announces that it has entered into five music licensing, collection and distribution agreements with various European rights holders. The agreements, which are believed to be the first deals to license a virtual reality service, cover rights in the following territories: Germany, UK, Ireland, Sweden, Greece, Belgium, The Netherlands and Switzerland. Agreements with music publishers, collection societies and performance rights organisations are vital for the exploitation of the underlying musical works (e.g. Songwriter copyrights) featured throughout MelodyVR’s substantial library of original VR music content. In advance of the launch of the MelodyVR platform, the multi-year agreements license the distribution of VR content and enhance Melody’s capabilities across strategically important European territories.

Companies: EVR

13 Jul 17

N+1 Singer - Amino Technologies - Strong momentum at attractive valuation

Amino’s H1’17 results on Tuesday showed continued momentum in both device sales and recurring software revenue, leaving the group very well placed to achieve our full year expectations. Trading in the first half benefitted from a healthy FX tailwind but we were encouraged to see double digit underlying constant currency growth in both key revenue segments. Net cash at May’17 of £13.1m benefitted from a large working capital inflow, which we expect to reverse in H2, however the group still has plenty of firepower for further earnings enhancing acquisitions. We leave our full year forecasts essentially unchanged but see scope for outperformance in the second half. We retain our 243p target price and Buy recommendation.

Companies: Amino Technologies

27 Mar 17

The Joy of Techs

Enterprise-focused niche applications of tech illustrate how, while trends appear to be fluctuating away from the current poster children of fintech and the Internet of Things, in fact these developments are refining appropriate application of existing technologies.

Companies: 7DIG AMO ARTA BVC BOTB CTP CFHL ISL DTC DOTD ELCO ESV FDSA FDEV GBG IDEA IDOX IMTK IGP IOM KBT KCOM KWS LRM MAI MMX NASA NET ONEV PHD QTX QXT RCN 932 SSY SEE SIM SPE TAX TEP TPOP TRAK UNG VIP ZOO

20 Apr 17

Opportunity knocks

TEP’s trading update for the year to March 2017 highlights modest growth as expected, with a total dividend of 48p (25p final dividend) in line (49pE). FY18 forecasts are trimmed 3% at adjusted PBT level, to remain in line with FY17, with better quality customers taking all possible services – at a higher cost of acquisition but better prospective year 2 margins. With the positive outlook that a narrowing of the gap between standard variable energy tariffs and aggressively priced introductory deals has led to an encouraging upward trend in Q4 to March, prospects for restored growth in revenue (FY18) and profit (FY19) are strong. Improved incentivisation of the self employed salesforce, after a few years of lower growth, is complemented by the imminent addition of Home Insurance, adding sales momentum and increased customer interest as utility prices rise. With the double upside to the £70m tender offer in summer, and the June release of FY19 forecasts illustrating growth following greater detail available at prelims, the future is brighter for TEP. Target 1360p reiterated.

Companies: Telecom Plus

11 Jul 17

Gross margin strength

Interims highlight strong gross margins with the benefit of revenue mix effects. A very strong first half has delivered £6.9m adjusted PBT (+64% vs 1H16 and representing 63% of FY expectations) from revenue of £39.9m (representing 51% of FY expectations). As revealed at the trading update, very strong cash generation from unusually beneficial working capital movement led to period end cash of £13.1m (FY16: £6.2m). Despite 21% organic revenue growth and a strong order book, timing of large orders in 2H remains elusive to predict but with evident 1H margin expansion from previous expectations we trim FY revenue growth forecasts 5% with no effect on full-year gross profit, EBITDA and cash. The stock remains cheap, cash generative, and growing, with a dividend yield above 3.5%. Target 260p reiterated, with likely upward pressure on forecasts and target price as the revenue mix evolves in improving scale and profitability.

Companies: Amino Technologies

03 Jan 17

Connecting the dots

AdEPT stands out amongst its peer group for delivering consistent strong growth in profits (we focus on EBITDA, but it’s just as true for Operating Profit or EPS).

Companies: Adept Telecom

14 Aug 17

Agreement signed with ARESA, licensing hundreds of thousands of musical works

MelodyVR, the leading creator of virtual reality content focused on the music industry and subsidiary of EVR Holdings, this morning announces that it has entered into a multi-year music licensing agreement with ARESA GmbH, the Anglo-American Rights European Service Agency. ARESA represents the copyright catalogues of companies such as Chrysalis, Bug, BMG, Cherry Lane, Famous, Virgin, Stage Three and Evergreen, comprising several hundreds of thousands of works from leading global artists such as Adele, David Bowie and The Rolling Stones. The agreement also covers 34 territories across Europe, and follows on from last week’s announcement that MelodyVR had signed five music licensing, collection and distribution agreements with various European rights holders.

Companies: EVR

11 Jul 17

Strong H1 2017 delivery

Amino has reported H1 17A results ahead of management’s expectations, and a closing net cash position (£13.1m) confirmed as having more than doubled over FY 16A. Key metrics saw impressive growth, with turnover and adjusted EBITDA up 21% and 70% respectively. IP device sales were strong, particularly in the Americas. In software, the group continues to report positive momentum. We leave earnings estimates unchanged at this stage and believe the maintained progressive dividend policy (+10% y/y) continues to demonstrate management’s confidence in the outlook.

Companies: Amino Technologies

30 Jun 17

UK Oil & Gas Investments - Summary of Broadford Bridge Conventional Oil Opportunity

17 Mar 17

CyanConnode - New funding round announced

15 Jun 17

CyanConnode - Smart metering order in Bangladesh

09 Mar 17

AdEPT (ADT) update Sharesoc Richmond March 2017

05 Oct 16

CyanConnode - JST Thailand increases strategic investment

06 Feb 17

CyanConnode Holdings - New purchase order from HM Power

14 Jun 16

Cyan Holdings - Acquisition and Fund Raising

22 Jul 16

Cyan Holdings - Analyst interviews, Beaufort Securities

06 Jul 17

CyanConnode Holdings PLC - New $1.1m purchase order from India

01 Mar 16

AdEPT Telecom - ADT - Investor presentation ShareSoc Richmond 1.3.16

09 Jan 17

Capital Network's Stacey expects "another year of earnings growth" for AdEPT Telecom

09 Feb 16

Cyan Holdings - Purchase order for smart metering in Iran

16 May 17

CyanConnode - Final Results

21 Jan 16

Cyan Holdings - Follow on order from Tata Power Mumbai

13 Jul 17

CyanConnode - Trading Update

Latest Content

Cyanconnode

CyanConnode - $10M follow-on order

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cyanconnode-10m-follow-on-order-15-08-2017

15 Aug 17

Cyanconnode H&T Group

Morning Note

CyanConnode* (CYAN): New $10m contract lifts the order book to £28m (CORP) | H&T Group (HAT): Interims best in a milestone year (BUY)

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15 Aug 17
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EVR

Music tech company MelodyVR signs agreement with ARESA, market reacts favourably

The announcement allows the Group access to the music libraries of Virgin and BMG Music amongst others.

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14 Aug 17
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Telit Communications

Telit CEO Oozi Cats resigns after allegations of fraud in the US

Shares in the Internet of Things enabler bounced back after a tumultuous week for the Group.

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14 Aug 17
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EVR

Agreement signed with ARESA, licensing hundreds of thousands of musical works

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14 Aug 17
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MWE GFIN MIRA NWT

TMT Update 14.08.17 (MWE.L, GFIN.L, MIRA.L, NWT.L)

MTI Wireless Edge plc (MWE.L, 34.25p/£18.1m) Interims and contract win: Both divisions firing | Gfinity plc (GFIN.L, 21p/£39.6m) Australian Elite Series: Geographic expansion | Mirada plc (MIRA.L, 1.75p/£2.4m) Trading update: Improvement at Televis

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14 Aug 17
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Filtronic

Panmure Morning Note 14-08-2017

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14 Aug 17
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DCD EAH GGP GTC FISH AAZ WJG SAV FTC LWRF

Small Cap Breakfast

OnTheMarket—Intention to float on AIM to raise c. £50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. Wilmcote Holdings plc—Sch1 from the Company established with the objective of creating value for its investors through the acquisition and subsequent development of target businesses in the downstream and specialty chemicals sector. Offer raising £15m at 120p with market cap of £25m. Expected 17 August 2017 Hipgnosis Songs Fund investment Company offering pure-play exposure to Songs and associated musical intellectual property rights. Offer raising £200m at 100p. The Company has decided to extend the closing date for the Placing, Offer for Subscription and Intermediaries Offer to 1 August 2017. The Company may bring forward this closing date at any time. Admission 15 September 2017