IQE (LON:IQE) Trading Down 7% – Here’s Why

IQE plc (LON:IQE)’s share price traded down 7% during trading on Thursday . The stock traded as low as GBX 43.40 and last traded at GBX 43.70. 80,487,094 shares traded hands during trading, an increase of 153% from the average daily volume of 31,849,924 shares. The stock had previously closed at GBX 47.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 60 target price on shares of IQE in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 60.

IQE Price Performance

The company has a market capitalization of £581.66 million, a P/E ratio of -11.59, a PEG ratio of 12.70 and a beta of 2.21. The stock’s fifty day simple moving average is GBX 45.48 and its 200-day simple moving average is GBX 36.77. The company has a debt-to-equity ratio of 102.23, a current ratio of 0.76 and a quick ratio of 0.97.

IQE (LON:IQE) last announced its earnings results on Thursday, May 28th. The company reported GBX (2.82) earnings per share for the quarter. The business had revenue of GBX 9,730 million for the quarter. IQE had a negative net margin of 37.71% and a negative return on equity of 37.49%. On average, equities analysts forecast that IQE plc will post 0.37 earnings per share for the current fiscal year.

Insider Transactions at IQE

In related news, insider Bamdad Bastani sold 500,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of GBX 46, for a total transaction of £230,000. Company insiders own 4.66% of the company’s stock.

About IQE

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