Deutsche Bank Cuts IQE (LON:IQE) Price Target to GBX 40

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IQE (LON:IQE) had its price objective reduced by Deutsche Bank from GBX 50 ($0.66) to GBX 40 ($0.53) in a research report issued to clients and investors on Friday, ThisIsMoney.Co.Uk reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank’s target price indicates a potential upside of 18.76% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Peel Hunt reiterated a “buy” rating on shares of IQE in a report on Tuesday. Barclays lowered IQE to an “equal weight” rating and lowered their price objective for the stock from GBX 73 ($0.96) to GBX 55 ($0.72) in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. IQE currently has a consensus rating of “Hold” and a consensus price target of GBX 72.60 ($0.96).

LON IQE opened at GBX 33.68 ($0.44) on Friday. The firm has a market capitalization of $268.21 million and a P/E ratio of -18.71. IQE has a 12-month low of GBX 24.28 ($0.32) and a 12-month high of GBX 96 ($1.26). The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 20.54. The firm’s fifty day simple moving average is GBX 44.97 and its two-hundred day simple moving average is GBX 53.14.

About IQE

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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