Kirsteen Mackay | Friday, 27th November, 2020 | More on: IQE Image source: Getty Images. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. British semiconductor company IQE (LSE:IQE) has had a pretty good 2020, all things considered. Founded in Wales, it’s a tech company that manufactures a range of applications for optoelectronic, electronic, wireless and solar devices. The IQE share price has recovered from the March market crash but is now experiencing some resistance to its rise. Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Kirsteen has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The IQE share price is rebounding: would I buy this UK share? See all posts by Kirsteen Mackay Share price reboundUK shares have been a mixed bag this year, with many companies suffering severely at the hands of Covid-19. While the IQE share price collapsed as much as 69% in March, it has since rebounded to be almost 20% higher than its January opening price.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Its market cap is £497m and earnings per share (EPS) are 0.13p but its price-to-earnings ratio (P/E) is an astronomical 480!The group expects to be delivering a mid-single-digit million pound adjusted operating profit for FY20. This will raise EPS and reduce the P/E, but it’s unlikely to come in at a sensible level. Therefore, I believe the positive sentiment surrounding IQE’s future is already well priced in to the share, and I don’t think IQE shares are a bargain at their current price.Learning from past mistakesIQE’s past earnings history doesn’t make for great reading, it’s been known to hype investors up with anticipation, only to leave them bitterly disappointed with the results. Nevertheless, it appears to have won some business in recent months, and its 2020 revenues have been better than expected. It also revised its full-year revenue expectations to be at least £170m.IQE recently won a large contract for the military and defence sector worth over $10m. And it hopes to reduce its net debt for 2020. The IQE share price remains down 65% from its 2017 all-time high. This is a point of pain for long-term holders.Source: IQELooking to the futureThe advent of 5G, autonomous vehicles and the Internet of Things are all areas that have been hyped to the max this year, fuelling investor speculation and a price rise in related stocks. I think it’s true that these areas will continue to rise in demand. 5G deployment is set to get going again once the pandemic is behind us. Also, 3D sensing products are increasingly required for use in consumer electronics, the automotive industry, and healthcare. These are all sectors that IQE operates in.Dr Drew Nelson, IQE’s founder and chief, is stepping down to make way for a new visionary. A successor has not yet been found, but management is seeking someone who can lead IQE to capitalise effectively on the growth opportunities presenting themselves. This may bode well for the IQE share price and future shareholder returns.If I owned IQE stock, I’d continue to hold, but I’m not tempted to buy at the current share price. I don’t consider it among the best UK shares to buy now and can think of quite a few cheaper stocks I’d prefer to own. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.