Soitec (OTCMKTS:SLOIY) Trading Up 75% – Here’s What Happened

Soitec SA (OTCMKTS:SLOIY) shares shot up 75% during trading on Wednesday . The stock traded as high as $34.25 and last traded at $31.50. 2,343 shares changed hands during trading, an increase of 37% from the average session volume of 1,714 shares. The stock had previously closed at $18.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLOIY shares. Citigroup reiterated a “sell” rating on shares of Soitec in a report on Monday, February 9th. UBS Group lowered Soitec from a “buy” rating to a “neutral” rating in a research report on Monday, November 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Soitec in a report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Soitec Trading Up 75.0%

The company’s 50-day moving average price is $16.25 and its 200 day moving average price is $18.30.

Soitec Company Profile

Soitec is a France-based technology company specializing in the design and manufacture of advanced semiconductor materials. The company pioneered Smart Cut™ technology, which enables the production of Silicon-On-Insulator (SOI) wafers and other engineered substrates with superior electrical and thermal properties. Founded in 1992 as a spin-off from the French Atomic Energy Commission (CEA), Soitec has grown into a leading supplier of high-performance materials for the global electronics industry.

Soitec’s product portfolio includes RF-SOI substrates for 5G and mobile communications, Power-SOI for energy-efficient power management, and FD-SOI for ultra-low-power applications in IoT and automotive markets.