IQE (LON:IQE) Shares Down 6.1% – Here’s Why

IQE plc (LON:IQE)’s share price dropped 6.1% during mid-day trading on Thursday . The company traded as low as GBX 47 and last traded at GBX 50.70. Approximately 40,411,133 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 36,189,121 shares. The stock had previously closed at GBX 54.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 60 price objective on shares of IQE in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, IQE currently has a consensus rating of “Buy” and an average target price of GBX 60.

IQE Stock Performance

The stock has a market cap of £457.08 million, a price-to-earnings ratio of -9.18, a P/E/G ratio of 12.70 and a beta of 2.22. The company has a current ratio of 1.17, a quick ratio of 0.97 and a debt-to-equity ratio of 81.86. The firm has a fifty day simple moving average of GBX 39.78 and a 200-day simple moving average of GBX 19.90.

About IQE

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