Soitec (OTCMKTS:SLOIF) Shares Gap Down – Here’s Why

Shares of Soitec SA (OTCMKTS:SLOIF) gapped down before the market opened on Wednesday . The stock had previously closed at $137.50, but opened at $130.00. Soitec shares last traded at $128.4290, with a volume of 1,364 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Soitec to a “hold” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Soitec presently has a consensus rating of “Reduce”.

Soitec Price Performance

The business’s fifty day simple moving average is $157.33 and its 200 day simple moving average is $83.01. The company has a quick ratio of 1.85, a current ratio of 2.39 and a debt-to-equity ratio of 0.36.

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.