IQE plc (LON:IQE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 180.75 ($2.38) and last traded at GBX 178.75 ($2.35), with a volume of 9856378 shares traded. The stock had previously closed at GBX 178.75 ($2.35).

Several brokerages recently issued reports on IQE. Peel Hunt upped their price target on IQE plc from GBX 135 ($1.78) to GBX 150 ($1.97) and gave the stock a “buy” rating in a report on Tuesday, September 5th. Canaccord Genuity reiterated a “buy” rating and set a GBX 180 ($2.37) price target on shares of IQE plc in a report on Tuesday, September 5th. Finally, Citigroup Inc. began coverage on IQE plc in a report on Friday, November 10th. They set a “buy” rating and a GBX 195 ($2.56) price target for the company.

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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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