IQE (LON:IQE) Trading 11.6% Higher – Here’s Why

IQE plc (LON:IQE) shares traded up 11.6% during mid-day trading on Monday . The stock traded as high as GBX 57.80 and last traded at GBX 56.70. 72,533,297 shares traded hands during trading, an increase of 99% from the average session volume of 36,433,000 shares. The stock had previously closed at GBX 50.80.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft reissued 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, IQE currently has an average rating of “Buy” and a consensus target price of GBX 60.

IQE Stock Performance

The stock has a 50 day simple moving average of GBX 48.09 and a 200 day simple moving average of GBX 25.17. The company has a quick ratio of 0.97, a current ratio of 0.76 and a debt-to-equity ratio of 102.23. The company has a market cap of £744.24 million, a price-to-earnings ratio of -15.04, a PEG ratio of 12.70 and a beta of 2.25.

IQE (LON:IQE) last posted its 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 company had revenue of GBX 9,730 million during the quarter. As a group, analysts predict that IQE plc will post 0.37 EPS for the current year.

IQE Company Profile

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