IQE (LON:IQE) Shares Down 10.6% – Here’s Why

IQE plc (LON:IQE)’s share price dropped 10.6% during trading on Thursday . The stock traded as low as GBX 41.70 and last traded at GBX 42. 70,895,844 shares were traded during trading, an increase of 97% from the average daily volume of 35,927,621 shares. The stock had previously closed at GBX 47.

Analysts Set New Price Targets

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

IQE Stock 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 firm has a fifty day simple moving average of GBX 48.24 and a 200 day simple moving average of GBX 27.66. The company has a market cap of £551.29 million, a price-to-earnings ratio of -11.14, a P/E/G ratio of 12.70 and a beta of 2.25.

IQE (LON:IQE) last issued its quarterly earnings data on Thursday, May 28th. The company reported GBX (2.82) earnings per share for the quarter. The firm had revenue of GBX 9,730 million during the quarter. IQE had a negative return on equity of 37.49% and a negative net margin of 37.71%. On average, sell-side analysts expect that IQE plc will post 0.37 earnings per share for the current fiscal year.

About IQE

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