IQE (LON:IQE) Shares Cross Above 200-Day Moving Average – Here’s Why

IQE plc (LON:IQE)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 38.39 and traded as high as GBX 50.30. IQE shares last traded at GBX 48.80, with a volume of 14,751,980 shares traded.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 60 price objective 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, the company currently has an average rating of “Buy” and a consensus price target of GBX 60.

IQE Stock Down 1.2%

The company has a quick ratio of 0.97, a current ratio of 0.76 and a debt-to-equity ratio of 102.23. The company has a fifty day simple moving average of GBX 44.78 and a 200 day simple moving average of GBX 38.46. The firm has a market capitalization of £641.56 million, a P/E ratio of -12.79, a P/E/G ratio of 12.70 and a beta of 2.21.

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

Insider Transactions at IQE

In other IQE news, insider Bamdad Bastani sold 500,000 shares of IQE stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of GBX 46, for a total value 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.