Soitec (OTCMKTS:SLOIY) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Soitec SA (OTCMKTS:SLOIY) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.43 and traded as high as $60.21. Soitec shares last traded at $60.21, with a volume of 614 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oddo Bhf raised Soitec from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 3rd. Citigroup reissued a “sell” rating on shares of Soitec in a research report on Thursday, August 13th. Finally, Barclays upgraded shares of Soitec from an “equal weight” rating to an “overweight” rating in a research note on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Soitec Stock Up 11.4%

The firm has a fifty day moving average price of $76.02 and a 200 day moving average price of $59.43.

About Soitec

Soitec is a France-based semiconductor materials company that designs and manufactures engineered substrates used in the production of advanced semiconductor devices. Its technologies help improve chip performance, energy efficiency, radio-frequency capabilities and integration across a range of electronic applications. The company’s portfolio includes silicon-on-insulator (SOI) wafers, including radio-frequency SOI, fully depleted SOI and power SOI products, as well as silicon carbide substrates marketed under the SmartSiC name.