IQE (LON:IQE) Stock Jumps 11.2% – Here’s What Happened

IQE plc (LON:IQE – Get Free Report) shares shot up 11.2% during trading on Friday. The stock traded as high as GBX 55.40 and last traded at GBX 54.80. Approximately 35,115,848 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 29,268,793 shares. The stock had previously closed at GBX 49.30.

IQE Stock Performance

The business has a 50-day moving average of GBX 45.45 and a two-hundred day moving average of GBX 43.51. The company has a market cap of £729.44 million, a P/E ratio of -14.54, a P/E/G ratio of 12.70 and a beta of 2.23. The company has a debt-to-equity ratio of 36.37, a current ratio of 2.40 and a quick ratio of 0.97.

IQE (LON:IQE – Get Free Report) last announced its earnings results on Monday, September 7th. The company reported GBX (0.82) EPS for the quarter. IQE had a negative return on equity of 19.81% and a negative net margin of 20.21%. On average, sell-side analysts predict that IQE plc will post 0.37 EPS for the current fiscal year.

Insider Activity

In related news, insider Bamdad Bastani sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of GBX 46, for a total transaction of £230,000. 4.63% of the stock is currently owned by insiders.

About IQE

(Get Free Report)

IQE is the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry.

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