EnSilica – holder dumps almost 1m shares, followed by a profit warning, then broker downgrades estimates, shares now 41.38p, could drift before Finals in two weeks

Mark Watson-Mitchell
Oct 21
2 min read

Mark Watson-Mitchell – 21.10.2025

On the same day that EnSilica (LON:ENSI), the Abingdon-based leading chip maker, announced a Trading Update, the group was told that one of its investors had dumped nearly 1m shares.

Last Thursday, 16^th October, the company issued a Profits Warning due to contract delays, knocking broker expectations for six.

The group’s shares, which hit 53.60p on Tuesday 7^th October, had eased back to 45.50p on profit-taking following a market push based upon an overvaluation.

On the day of the Profit Warning, they fell to 39p in reaction and are now trading slightly higher at 41.38p.

That day the company was informed that investor Nicholas Weiner had sold down his holding two days before, chopping 940,000 shares out, leaving him with 2,517,737 shares representing 2.61% of EnSilica’s equity.

Joint Broker Lowers Estimates

Matt Butlin, analyst at Allenby Capital, commented that:

“A previously disclosed contract delay with one client and a cybersecurity incident affecting another have led EnSilica to adopt a more conservative outlook.

Management now expects EBITDA for FY2025 (year ended May 2025) of minus £1.3m (excluding a £1.6m provision the result would have been +£0.3m), versus our prior forecast of +£0.5m.

For FY 2026, a guidance range of +£3.5m to +£4.5m has been given, compared with our previous estimate of +£5.1m.

We have updated our model to reflect the revised guidance and will refine our forecasts upon publication of the detailed FY 2025 results on 4 November 2025.”

Allenby Capital acts as Nomad and Joint Broker to EnSilica.

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 is 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

We will have to wait until Tuesday, 4^th November, to see what else EnSilica claims – it will need to be very positive to help maintain the current share price.

It will also be interesting to see the ‘initiating note’ from the new Joint Broker Panmure Gordon, hopefully upon the results that day.

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

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