Soitec (OTCMKTS:SLOIY) Trading 75% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLOIY. UBS Group downgraded Soitec from a “buy” rating to a “neutral” rating in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Soitec in a research report on Friday, February 6th. Finally, Citigroup reaffirmed a “sell” rating on shares of Soitec in a research note on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Soitec presently has an average rating of “Hold”.

Soitec Stock Performance

The business has a 50 day simple moving average of $16.25 and a 200 day simple moving average of $18.30.

About Soitec

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.