Barclays Trims IQE (LON:IQE) Target Price to GBX 80

IQE (LON:IQE) had its price target lowered by stock analysts at Barclays from GBX 84 ($1.10) to GBX 80 ($1.05) in a research note issued to investors on Tuesday, May 28th, ThisIsMoney.Co.Uk reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 6.17% from the company’s current price.

Several other brokerages also recently commented on IQE. Deutsche Bank cut their price target on shares of IQE from GBX 80 ($1.05) to GBX 70 ($0.91) and set a “hold” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity reiterated a “buy” rating and set a GBX 130 ($1.70) price target on shares of IQE in a report on Tuesday, May 21st. Finally, Peel Hunt restated a “buy” rating on shares of IQE in a research note on Tuesday, April 9th.

Shares of IQE stock traded down GBX 1.65 ($0.02) during trading hours on Tuesday, reaching GBX 75.35 ($0.98). The company’s stock had a trading volume of 926,142 shares, compared to its average volume of 8,840,000. IQE has a one year low of GBX 55 ($0.72) and a one year high of GBX 116.60 ($1.52). The company has a market cap of $595.55 million and a PE ratio of 753.50.

In other IQE news, insider Howard Robert Williams sold 3,174,470 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of GBX 68 ($0.89), for a total value of £2,158,639.60 ($2,820,644.98).

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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