IQE's with MACOM and link to Nvidia are 'exciting', but shares downgraded after surge

After IQE PLC (AIM:IQE) strengthened its balance sheet and improved its growth outlook after securing fresh investment from major long-term customer MACOM, Panmure Liberum said it was upgrading its forecasts but downgrading its rating after a strong rise in the shares in recent weeks. The Cardiff-based compound semiconductor group revealed on Monday night that it has agreed an £81 million fundraise, made up of a strategic investment from MACOM alongside a placing, retail offer and convertible loan note.