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IQE plc ( (GB:IQE) ) has shared an update.
IQE plc announced that its FY24 revenue and Adjusted EBITDA are expected to surpass previous expectations, with revenue projected at £118 million and Adjusted EBITDA at least £7.5 million. This positive outlook is attributed to effective cost control and improved operational performance under the leadership of Jutta Meier. The ongoing strategic review of its Taiwan operations, which may include options like an IPO or full sale, has garnered significant interest, reflecting IQE’s technical leadership and robust asset base. Additionally, the company is nearing the conclusion of its proposed convertible loan note, which has received strong shareholder support, aiming to bolster resilience and expand into high-growth areas.
More about IQE plc
IQE plc is a leading global supplier of advanced compound semiconductor wafers and materials solutions, catering to various applications such as smart connected devices, communications infrastructure, automotive and industrial sectors, and aerospace and security. Headquartered in Cardiff, UK, IQE operates manufacturing locations in the UK, US, and Taiwan, and is listed on the AIM Stock Exchange in London. The company distinguishes itself with its scale in global epitaxy wafer manufacturing, backed by a strong intellectual property portfolio.
YTD Price Performance: 15.50%
Average Trading Volume: 3,872,193
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £124M
For detailed information about IQE stock, go to TipRanks’ Stock Analysis page.
