Insider Selling: IQE plc (IQE) Insider Sells 3,174,470 Shares of Stock

IQE plc (LON:IQE) insider Howard Robert Williams sold 3,174,470 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of GBX 68 ($0.89), for a total value of £2,158,639.60 ($2,820,644.98).

IQE stock traded up GBX 2.85 ($0.04) during trading on Friday, hitting GBX 86.90 ($1.14). The company had a trading volume of 1,781,926 shares, compared to its average volume of 8,840,000. The firm has a market cap of $679.44 million and a price-to-earnings ratio of 869.00. IQE plc has a fifty-two week low of GBX 55 ($0.72) and a fifty-two week high of GBX 131.90 ($1.72).

Several analysts have recently weighed in on IQE shares. Canaccord Genuity lifted their price objective on IQE from GBX 120 ($1.57) to GBX 130 ($1.70) and gave the stock a “buy” rating in a report on Wednesday. Peel Hunt reissued a “buy” rating on shares of IQE in a report on Wednesday, March 20th. Deutsche Bank reaffirmed a “hold” rating on shares of IQE in a research note on Monday, April 15th. Finally, Barclays reaffirmed an “overweight” rating on shares of IQE in a research note on Thursday, January 17th.

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About IQE

IQE plc develops, manufactures, and sells advanced semiconductor materials worldwide. The company operates through Wireless, Photonics, Infra-Red, and CMOS++ segments. It manufactures compound semiconductor wafers or epiwafers using epitaxy process; and offers various products, including HBTs, pHEMTs, BiFETs/BiHEMTs, HFETs, LMHEMTs, LNHEMTs, and MESFETs for use in wireless devices, such as mobile phones, smartphones, mobile networks, Wi-Fi, smart metering, satellite navigation, and a plethora of connected devices.

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