Imagination Tech slumps

 
Marion Dakers
SHARES in microchip designer Imagination Technologies tumbled more than 11 per cent to 250.7p yesterday on fears that its growth could be slowing.

Imagination Tech has lost out to Arm as a key supplier for Samsung’s new Exynos 5 Octa chip, which prompted investors to dump the stock.

But analysts at Numis said the share slump was overdone, calling it an “absurd reaction to [a] defensive Samsung move”.