Soitec (OTCMKTS:SLOIY) Stock Breaks Above Two Hundred Day Moving Average – Here’s Why

Soitec SA (OTCMKTS:SLOIY) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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 traded.

Analysts Set New Price Targets

A number of research firms have issued reports on SLOIY. Citigroup reiterated a “sell” rating on shares of Soitec in a research note on Thursday, August 13th. Barclays upgraded shares of Soitec from an “equal weight” rating to an “overweight” rating in a research report on Friday, September 18th. Finally, Oddo Bhf raised shares of Soitec from a “neutral” rating to an “outperform” rating in a report on Thursday, September 3rd. Four analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Soitec has an average rating of “Hold”.

Soitec Stock Performance

The stock has a fifty day moving average price of $75.76 and a two-hundred day moving average price of $59.66.

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.