IQE (LON:IQE) Stock Price Down 8.8% – Here’s What Happened

IQE plc (LON:IQE)’s share price was down 8.8% during mid-day trading on Thursday . The company traded as low as GBX 50.20 and last traded at GBX 51. 29,871,977 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 36,291,910 shares. The stock had previously closed at GBX 55.90.

Wall Street Analysts Forecast Growth

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

IQE Price Performance

The company has a debt-to-equity ratio of 102.23, a current ratio of 0.76 and a quick ratio of 0.97. The company has a 50-day simple moving average of GBX 48.09 and a two-hundred day simple moving average of GBX 25.03. The stock has a market capitalization of £666.79 million, a price-to-earnings ratio of -13.47, a price-to-earnings-growth ratio of 12.70 and a beta of 2.25.

IQE (LON:IQE) last announced its quarterly earnings results on Thursday, May 28th. The company reported GBX (2.82) earnings per share (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. On average, equities research analysts predict that IQE plc will post 0.37 earnings per share 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.