Soitec (OTCMKTS:SLOIF) Shares Up 8.2% – Here’s Why

Shares of Soitec SA (OTCMKTS:SLOIF) rose 8.2% during mid-day trading on Wednesday . The company traded as high as $151.50 and last traded at $151.50. Approximately 2,233 shares were traded during trading, a decline of 84% from the average session volume of 14,393 shares. The stock had previously closed at $140.00.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Soitec to a “hold” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Soitec Stock Up 7.1%

The stock has a fifty day simple moving average of $132.50 and a two-hundred day simple moving average of $105.91. The company has a current ratio of 3.89, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

Soitec Company Profile

Soitec is a France‐based semiconductor materials company specializing in the design and manufacture of engineered substrates for the microelectronics industry. Its core technology, known as Smart Cut®, enables the production of high-performance wafers such as silicon-on-insulator (SOI), gallium nitride-on-insulator (GaN-OI) and other advanced material platforms. These substrates are used by semiconductor manufacturers to improve device performance, reduce power consumption and integrate new functions in applications ranging from mobile devices to data centers.

The company’s product portfolio includes a variety of engineered wafers tailored for radio frequency (RF) applications, power management, and photonics.