Shares of IQE plc (LON:IQE – Get Free Report) were down 9.5% during mid-day trading on Wednesday . The company traded as low as GBX 50.50 and last traded at GBX 50.60. Approximately 27,686,277 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 36,531,391 shares. The stock had previously closed at GBX 55.90.
Analysts Set New Price Targets
Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 60 target price on shares of IQE in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, IQE currently has an average rating of “Buy” and an average target price of GBX 60.
IQE Trading Down 2.3%
IQE (LON:IQE – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported GBX (2.82) earnings per share for the quarter. IQE had a negative return on equity of 37.49% and a negative net margin of 37.71%.The business had revenue of GBX 9,730 million for the quarter. On average, analysts anticipate that IQE plc will post 0.37 EPS for the current year.
About IQE
IQE is the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry.
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