IQE (IQE) Earns “Buy” Rating from Canaccord Genuity

IQE (LON:IQE)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Tuesday, Digital Look reports. They presently have a GBX 130 ($1.70) price objective on the stock. Canaccord Genuity’s price objective indicates a potential upside of 72.41% from the stock’s current price.

Several other research analysts also recently weighed in on IQE. Deutsche Bank lowered their target price on IQE from GBX 80 ($1.05) to GBX 70 ($0.91) and set a “hold” rating on the stock in a research note on Friday, March 22nd. Peel Hunt reiterated a “buy” rating on shares of IQE in a research note on Tuesday, April 9th.

LON:IQE traded up GBX 1.90 ($0.02) during mid-day trading on Tuesday, reaching GBX 75.40 ($0.99). 1,415,901 shares of the stock were exchanged, compared to its average volume of 8,840,000. The company has a market capitalization of $589.52 million and a PE ratio of 754.00. IQE has a 1 year low of GBX 55 ($0.72) and a 1 year high of GBX 128.30 ($1.68).

In other IQE news, insider Howard Robert Williams sold 3,174,470 shares of IQE stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of GBX 68 ($0.89), for a total value of £2,158,639.60 ($2,820,644.98).

IQE Company Profile

IQE plc develops, manufactures, and sells advanced semiconductor materials worldwide. The company operates through Wireless, Photonics, Infra-Red, and CMOS++ segments. It manufactures compound semiconductor wafers or epiwafers using epitaxy process; and offers various products, including HBTs, pHEMTs, BiFETs/BiHEMTs, HFETs, LMHEMTs, LNHEMTs, and MESFETs for use in wireless devices, such as mobile phones, smartphones, mobile networks, Wi-Fi, smart metering, satellite navigation, and a plethora of connected devices.

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