Soitec (OTCMKTS:SLOIY) Trading Up 1.9% – Still a Buy?

Soitec SA (OTCMKTS:SLOIY) shares shot up 1.9% on Wednesday . The stock traded as high as $32.55 and last traded at $30.81. 11,452 shares traded hands during trading, a decline of 12% from the average session volume of 13,047 shares. The stock had previously closed at $30.25.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLOIY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Soitec in a report on Friday, February 6th. Citigroup reiterated a “sell” rating on shares of Soitec in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Soitec Stock Up 1.9%

The firm’s 50 day moving average is $21.76 and its 200-day moving average is $19.43.

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.