Soitec Shares Drop 3.65% to €147.90, a Pause After Nearly Tripling in a Month
The stock of the semiconductor materials specialist takes a breather this Tuesday midday. Soitec drops 3.65% to €147.90, after setting a new historical record the previous day. The movement occurs as the CAC 40 gains 0.62% at 8,025.9 points during the session.
Deutsche Bank Doubles Its Target and Shifts to Buy
Yesterday, the German bank upgraded its recommendation on Soitec to 'buy', with a target price increased from €70 to €150. The new target price set by the analyst is now very close to the current price of €147.90, which implies a reduced potential of about 1.4%. This upgrade comes after an extraordinary stock performance, with the stock nearly quadrupling in three months (+389%) and rising 35% over the last seven sessions. In April, the pace of increase regularly exceeded some analysts' targets. It is worth recalling that mid-April, the stock had already surpassed Deutsche Bank's previous target of €70, which likely motivated this update.
RSI at 84 and Crossing the Upper Bollinger Band
Today's decline comes amid tense technical indicators. The RSI stands at 84, in a marked overbought zone, a level that was previously flagged at 86 on April 29. Moreover, the price is moving above the upper Bollinger band set at €147.18, consistent with an upward extension dynamic. The technical resistance identified at €153.50 corresponds to yesterday's high and was not breached this Tuesday. The moving averages underline the magnitude of the underlying movement: the MM50 is at €65.12 and the MM200 at €41.71, both significantly below the current price. The next key event on the calendar is the publication of the 2026 annual results expected on May 27.
