IQE (LON:IQE) Shares Up 11.7% – Here’s What Happened

Shares of IQE plc (LON:IQE) were up 11.7% on Thursday . The stock traded as high as GBX 43.90 and last traded at GBX 43.90. Approximately 17,940,377 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 36,055,355 shares. The stock had previously closed at GBX 39.30.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 60 price objective on shares of IQE in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 60.

IQE Price Performance

The company has a current ratio of 0.76, a quick ratio of 0.97 and a debt-to-equity ratio of 102.23. The business has a 50-day moving average price of GBX 44.38 and a 200 day moving average price of GBX 22.88. The stock has a market cap of £576.23 million, a PE ratio of -11.64, a PEG ratio of 12.70 and a beta of 2.25.

IQE (LON:IQE) last issued its quarterly earnings results on Thursday, May 28th. The company reported GBX (2.82) EPS for the quarter. IQE had a negative net margin of 37.71% and a negative return on equity of 37.49%. The firm had revenue of GBX 9,730 million for the quarter. As a group, research analysts forecast that IQE plc will post 0.37 earnings per share for the current fiscal year.

IQE Company Profile

IQE is the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry.