IQE plc (LON:IQE)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 166.25 ($2.19) and last traded at GBX 163 ($2.14), with a volume of 37326788 shares traded. The stock had previously closed at GBX 140 ($1.84).

Several brokerages have recently issued reports on IQE. Peel Hunt lifted their price objective on shares of IQE plc from GBX 135 ($1.78) to GBX 150 ($1.97) and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a GBX 180 ($2.37) price objective on shares of IQE plc in a research note on Tuesday, September 5th. Finally, Citigroup Inc. began coverage on shares of IQE plc in a research note on Friday. They issued a “buy” rating and a GBX 195 ($2.56) price objective on the stock.

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IQE plc Company Profile

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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