IQE (LON:IQE) Share Price Passes Above 200-Day Moving Average of $34.16

Shares of IQE plc (LON:IQEGet Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 34.16 ($0.41) and traded as high as GBX 34.50 ($0.42). IQE shares last traded at GBX 32.20 ($0.39), with a volume of 2,002,298 shares.

A number of research firms recently commented on IQE. Canaccord Genuity Group cut shares of IQE to a “hold” rating and dropped their price target for the stock from GBX 55 ($0.67) to GBX 43 ($0.52) in a research note on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 50 ($0.61) price target on shares of IQE in a research note on Wednesday, March 30th.

The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 30.25. The business’s 50 day moving average is GBX 32.11 and its 200 day moving average is GBX 34.16. The stock has a market capitalization of £259.07 million and a PE ratio of -8.26.

In related news, insider Andrew W. Nelson acquired 250,000 shares of the stock in a transaction on Wednesday, April 27th. The stock was bought at an average cost of GBX 30 ($0.36) per share, with a total value of £75,000 ($91,030.46).

About IQE (LON:IQE)

IQE plc develops, manufactures, and sells advanced semiconductor materials. The company operates in three segments: Wireless, Photonics, and CMOS++. It manufactures compound semiconductor wafers or epiwafers using epitaxy process; offers wireless products, including GaAs, GaN, and InP-based technologies, as well as Si and Ge-based epitaxial wafer structures; and supplies GaAs HBTs, pHEMTs, and BiFETs/BiHEMTs for use in consumer mobile handsets, connected devices, 5G network infrastructure, WiFi 6, Bluetooth, and satellite communications.

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