Soitec (OTCMKTS:SLOIF) Shares Up 11.4% - What's Next?

Key Points

• Soitec SA (OTCMKTS:SLOIF) shares surged by 11.4% to $43.16 during mid-day trading, with trading volume significantly exceeding the average.
• Despite the stock's recent rise, Citigroup downgraded Soitec from a "hold" rating to a "strong sell" rating, reflecting a negative sentiment among Wall Street analysts.
• The company's products, including RF-SOI and FD-SOI materials, are critical for manufacturing semiconductors used in various electronic devices, from smartphones to data centers.

Soitec SA (OTCMKTS:SLOIF - Get Free Report) shares shot up 11.4% during mid-day trading on Wednesday . The company traded as high as $43.16 and last traded at $43.16. 100 shares traded hands during trading, an increase of 551% from the average session volume of 15 shares. The stock had previously closed at $38.75.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of Soitec from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Soitec has an average rating of "Sell".

Soitec Stock Up 11.4%

The business's 50-day moving average price is $43.68 and its two-hundred day moving average price is $50.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.03 and a quick ratio of 1.72.

Soitec Company Profile

Soitec SA designs and manufactures semiconductor materials worldwide. Its products are used to manufacture chips that are used in smart phones, tablets, computers, IT servers, and data centers, as well as electronic components in cars, connected devices, and industrial and medical equipment. It provides CONNECT Radio Frequency Silicon-on-Insulator (RF-SOI) for smartphone front-end modules; CONNECT Piezoelectric-on-Insulator RF filters for smartphone; and CONNECT RF gallium nitride for 5g infrastructure base stations and smartphones, as well as CONNECT Fully Depleted Silicon-On-Insulator (FD-SOI).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.