IQE (LON:IQE) Trading Up 18.9% – Here’s What Happened

IQE plc (LON:IQE) shares were up 18.9% during mid-day trading on Tuesday . The stock traded as high as GBX 54.50 and last traded at GBX 54.40. Approximately 331,449,219 shares traded hands during mid-day trading, an increase of 755% from the average daily volume of 38,764,793 shares. The stock had previously closed at GBX 45.75.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 60 target price on shares of IQE in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, IQE currently has a consensus rating of “Buy” and a consensus target price of GBX 60.

IQE Stock Performance

The firm has a 50 day moving average of GBX 39.78 and a two-hundred day moving average of GBX 19.90. The stock has a market cap of £473.73 million, a PE ratio of -9.52, a PEG ratio of 12.70 and a beta of 2.22. The company has a debt-to-equity ratio of 81.86, a current ratio of 1.17 and a quick ratio of 0.97.

About IQE

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