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Latest IQE Stock News | OTC:IQEPY | Benzinga

IQE PLC is a company engaged in the research, design, development, manufacture and sale of compound semiconductor materials. Its reportable segments based on the markets include Wireless, Photonics, and CMOS++. The Photonics segment manufactures and sells compound semiconductor material for the photonics market, which includes applications that either transmit or sense light, both visible and infrared. The Wireless segment manufactures and sells compound semiconductor material for the wireless market, which includes radiofrequency devices that enable wireless communications. Its geographical segments are the Americas, Europe, Middle East & Africa (EMEA), and the Asia Pacific.

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IQE Files Lawsuit Against Tower Semiconductor

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<ul>
	<li>IQE Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/IQEPY#OTC">IQEPY</a>), the leading supplier of compound semiconductor wafer products and advanced material solutions, has&nbsp;<a class="editor-rtfLink" href="https://www.iqep.com/media/press-releases/2022/filing-of-lawsuit-to-protect-iqe-s-intellectual-property/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">prosecuted</a>&nbsp;Tower Semiconductor Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>).</li>
	<li>IQE claimed to possess significant evidence against Tower&#39;s unlawful misuse of IQE&#39;s trade secrets to obtain patents on IQE&#39;s technology.&nbsp;</li>
	<li>The claims related to IQE&#39;s proprietary porous silicon technology, which would underpin devices used in 5G and advanced sensing applications.</li>
	<li>Earlier this year,&nbsp;Intel Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/02/b25626463/intel-to-acquire-tower-semiconductor-for-5-4-billion" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">agreed to acquire</a>&nbsp;Tower for $53 per share in cash, valuing the latter at $5.4 billion.</li>
	<li>Tower&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/05/27218925/tower-semiconductor-clocks-21-revenue-growth-in-q1-grows-profits" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">clocked 21% revenue</a>&nbsp;growth in the first quarter of FY22, beating the consensus. It posted a 29% organic growth.</li>
	<li>Price Action:&nbsp;TSEM shares traded lower by 0.11% at $46.03 in the premarket on the last check Monday.</li>
</ul>

<ul>
	<li>British technology firm&nbsp;IQE PLC&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/IQEPY#OTC">IQEPY</a>)&nbsp;<a class="editor-rtfLink" href="https://www.iqep.com/media/press-releases/2021/leadership-announcement-americo-lemos-appointed-as-ceo-of-iqe/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">announced the appointment</a>&nbsp;of Americo Lemos as CEO, effective January 10, 2022.</li>
	<li>Lemos joins IQE from the executive team of&nbsp;GLOBALFOUNDRIES Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>), a semiconductor designer and manufacturer.</li>
	<li>In 2020, Drew Nelson announced plans to step down. As previously announced, Nelson will retain an advisory and ambassadorial role for the business as a Non-Executive Director on the Board, with the title of President.</li>
	<li>The appointment follows an extensive search process led by Phil Smith, interim Executive Chairman of IQE.</li>
	<li>IQE makes semiconductor wafers for chips used in&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) products.&nbsp;</li>
	<li>Price Action:&nbsp;GFS shares traded higher by 4.20% at $64.72 in the premarket session on the last check Monday.</li>
</ul>

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