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IQE plc ( (GB:IQE) ) has provided an update.
IQE plc announced its full-year 2024 financial results, showing improved profitability and a strategic shift in focus. The company reported a slight increase in revenue to £118.0m and a significant rise in adjusted EBITDA by 88% year-on-year, reflecting cost reduction efforts and operational optimizations. Despite challenges in the macroeconomic environment, IQE is progressing with a strategic review, including potential asset sales and an IPO, to strengthen its financial position. Jutta Meier has been appointed as the CEO, continuing her role as CFO, and will lead the company through its ongoing strategic initiatives.
The most recent analyst rating on (GB:IQE) stock is a Buy with a £0.45 price target. To see the full list of analyst forecasts on IQE plc stock, see the GB:IQE Stock Forecast page.
More about IQE plc
IQE plc is a leading global supplier of compound semiconductor wafer products and advanced material solutions. The company operates in the semiconductor industry, focusing on wireless, photonics, and power applications with a strong presence in Asian markets and a strategic shift towards GaN Power and MicroLED technologies.
Average Trading Volume: 2,607,737
Technical Sentiment Signal: Sell
Current Market Cap: £91M
Learn more about IQE stock on TipRanks’ Stock Analysis page.