EnSilica – despite new brokers 55p Target Price, shares now 40p could well ease to 30p ahead of cash raise

Mark Watson-Mitchell – 06.11.2025

The results for the year to end May 2025, reported by EnSilica (LON:ENSI) on Tuesday of this week, were disappointing and could well stymie any significant rise in the group’s share price for quite a while.

After having peaked at 53.60p a month ago, following a questionable valuation ‘puff’, they have since slipped back to 40p.

There is no doubt that the group is attempting to win more business within the ‘space sector’ and will add to its list of orders over the coming months – however it could well see the group’s shares drifting further as investors await positive signals from the company that it is progressing.

However, one of its broker’s, Panmure Liberum, has now published its 55-page Initiation research on the group.

Its analysts, Harvey Robinson and Andrew Ripper, have put out a Buy rating on the company, setting a 55p Target Price.

The Business

The Company is headquartered near Oxford, and has design centres across the UK, India, Brazil and Hungary.

It is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. 

It has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. 

EnSilica claims that it has a track record in delivering high-quality solutions to demanding industry standards. 

My View

By the ‘fluke’ of that overvaluation ‘puff’ a month ago, this group’s shares burst through my second Target Price of 50p, set in late July this year.

That just shows the vagaries of the market – my TP being achieved but not through any positivity of corporate action by the business.

If asked how I feel about EnSilica now – my response is that investors should perhaps take whatever profits they may still have, looking to get back into the shares lower down in price.

I worry about its present level of funding, especially at the still early stages of its current transition from its previous design consultancy into a fabless semiconductor company.

A chunky fund-raising just has to be around the corner – anticipation of which could well see the shares easing back to test the 30p levels, unless supported by very far-horizon new investors.

Big Cash Raise Due?

(Profile 02.06.25 @ 34.50p set a Target Price of 43p*)

(Profile 23.07.25 @ 39p set a Target Price of 50p*)