Soitec (OTCMKTS:SLOIY) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Soitec SA (OTCMKTS:SLOIY)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-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 trading hands.

Analyst Upgrades and Downgrades

SLOIY has been the topic of several recent analyst reports. Citigroup reissued a “sell” rating on shares of Soitec in a research note on Thursday, August 13th. Barclays raised shares of Soitec from an “equal weight” rating to an “overweight” rating in a research note on Friday, September 18th. Finally, Oddo Bhf upgraded 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Soitec Stock Up 11.4%

The stock’s 50 day simple moving average is $76.02 and its two-hundred day simple moving average is $59.43.

Soitec Company Profile

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.