IQE (IQE) Hits New 12-Month Low Following Analyst Downgrade

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IQE plc (LON:IQE) reached a new 52-week low during trading on Wednesday after Deutsche Bank lowered their price target on the stock from GBX 100 to GBX 80. Deutsche Bank currently has a hold rating on the stock. IQE traded as low as GBX 56.25 ($0.74) and last traded at GBX 56.25 ($0.74), with a volume of 10211688 shares traded. The stock had previously closed at GBX 63.95 ($0.84).

Several other research analysts have also recently weighed in on the stock. Peel Hunt restated a “buy” rating on shares of IQE in a report on Tuesday, July 24th. Barclays restated an “overweight” rating and set a GBX 170 ($2.22) price target on shares of IQE in a report on Thursday, August 30th. Finally, Canaccord Genuity restated a “buy” rating and set a GBX 190 ($2.48) price target on shares of IQE in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of GBX 162.57 ($2.12).

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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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