Soitec (OTCMKTS:SLOIF) Shares Gap Up – Here’s What Happened

Soitec SA (OTCMKTS:SLOIF) gapped up before the market opened on Thursday . The stock had previously closed at $127.2750, but opened at $133.9560. Soitec shares last traded at $131.5750, with a volume of 670 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Soitec to a “hold” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Soitec currently has an average rating of “Hold”.

Soitec Trading Up 7.9%

The firm has a 50-day simple moving average of $126.70 and a 200-day simple moving average of $113.85. The company has a current ratio of 3.89, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

About Soitec

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.