The stock of IQE plc (LON:IQE) hit a new 52-week high and has GBX 40.02 target or 38.00% above today’s GBX 29.00 share price. The 8 months bullish chart indicates low risk for the GBX 195.24 million company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 40.02 price target is reached, the company will be worth GBX 74.19 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.66% or GBX 0.75 on September 13, hitting GBX 29. About 9.93M shares traded hands or 442.62% up from the average. IQE plc (LON:IQE) has risen 55.56% since February 12, 2016 and is uptrending. It has outperformed by 39.07% the S&P500.
Out of 3 analysts covering IQE PLC (LON:IQE), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. IQE PLC has been the topic of 11 analyst reports since October 28, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained the stock on September 13 with “Buy” rating.
IQE plc is a United Kingdom-based holding company. The company has a market cap of 195.24 million GBP. The Firm is engaged in the research, development and provision of engineering consultancy services to the compound semiconductor industry. It has a 10.03 P/E ratio. The Company’s divisions include wireless, photonics, Infra Red and CMOS++.
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