Soitec (OTCMKTS:SLOIF) Stock Price Up 10.5% - Here's What Happened

Key Points

• Soitec SA's stock price increased by 10.5% to $51.00, marking a rise from its previous close of $46.15.
• Despite the stock's boost, Citigroup downgraded Soitec from a "hold" to a "strong sell" rating, indicating cautious sentiment among analysts.
• The company specializes in designing and manufacturing semiconductor materials used in various devices, including smartphones and computers.

Shares of Soitec SA (OTCMKTS:SLOIF - Get Free Report) rose 10.5% on Thursday . The stock traded as high as $51.00 and last traded at $51.00. Approximately 1 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 1 shares. The stock had previously closed at $46.15.

Analysts Set New Price Targets

Separately, Citigroup downgraded Soitec from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Soitec currently has a consensus rating of "Sell".

Soitec Trading Up 10.5%

The company has a current ratio of 2.03, a quick ratio of 1.72 and a debt-to-equity ratio of 0.24. The business's 50 day moving average price is $43.16 and its 200-day moving average price is $48.67.

About Soitec

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).

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