Shares of IQE plc (LON:IQE) hit a new 52-week high during mid-day trading on Wednesday after Peel Hunt raised their price target on the stock from GBX 135 to GBX 150. Peel Hunt currently has a buy rating on the stock. IQE plc traded as high as GBX 160 ($2.07) and last traded at GBX 152.75 ($1.97), with a volume of 11,645,403 shares changing hands. The stock had previously closed at GBX 147 ($1.90).

Separately, Canaccord Genuity cut shares of IQE plc to a “speculative buy” rating and upped their target price for the company from GBX 69 ($0.89) to GBX 118 ($1.52) in a research report on Monday, June 26th.

The stock’s market cap is GBX 1.03 billion. The firm has a 50 day moving average price of GBX 121.36 and a 200-day moving average price of GBX 79.19.

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About IQE plc

IQE plc is a United Kingdom-based holding company. The Company is engaged in the research, development and provision of engineering consultancy services to the compound semiconductor industry. The Company’s segments include wireless, photonics, Infra Red and CMOS++. The Company is the manufacturer and supplier of Compound Semiconductor wafers or epiwafers using a process called epitaxy.

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