Soitec Stock Drops 5.2% Mid-Session, Below 25 Euros
Soitec stock intensifies its decline this Tuesday, February 3, at midday, dropping 5.23% to 24.45 euros. The specialist in silicon substrates for semiconductors thus continues a marked downward trend, with a drop of nearly 12% over the last seven days and a fall of more than 40% over three months.
Technical Indicators Show Unfavorable Signs
Soitec stock is now significantly below its main moving averages, a technically unfavorable signal. The 50-day moving average is at 25.87 euros, slightly above the current price, while the 200-day average remains at 38.52 euros, reflecting the magnitude of the correction recorded over several months. The RSI, at 33, indicates that the stock is approaching an oversold zone without yet reaching it, suggesting that selling pressure is still present. The monthly volatility of 11.43% indicates high nervousness about the stock, while the support identified at 22.95 euros now represents a level to watch closely. Breaking through this threshold could amplify the ongoing downward movement. The Schoenfeld signal remains neutral, providing no clear directional indication at the moment.
Analysts Reassess Their Expectations
Analysts have recently reassessed their expectations for the stock. Jefferies lowered its price target from 42 to 26 euros at the beginning of December, while maintaining a 'hold' recommendation. This new target implies a limited upside potential of 6.3% compared to the current price. At the same time, BNP Paribas reduced its target from 36 to 27 euros with a neutral opinion, offering a theoretical margin of progression of 10.5%. These adjustments reflect the market's caution in the face of uncertainties weighing on the semiconductor sector and the growth prospects of the group. The stock has declined more than 71% over the year, a performance that illustrates the difficulties encountered by the company in a deteriorated industrial environment.
