Soitec share climbs 4.5%, leading the SBF 120 pack
The Isère-based semiconductor substrate manufacturer posts another positive session, defying a nearly stable CAC 40. Technical momentum has improved substantially since the end-of-July quarterly results, although the stock remains under pressure over longer timeframes.
Soitec gains 4.5% and returns to a more favorable technical configuration
In trading, Soitec advances 4.3% to €114.00, ranking among the strongest gainers in the SBF 120 while the broad Paris index declines 0.03%. Over the week, the stock has gained nearly 6.5%, extending the recovery phase initiated after the quarterly publication on July 22. The price has returned above the 20-day moving average (€100.22), with a positive gap of nearly 14%, which represents a first technical turning point after several weeks of correction.
Conversely, the 50-day moving average at €121.21 remains approximately 6% above the current price and constitutes the next threshold to cross to validate a more solid recovery. The MACD, whose histogram has returned to positive territory (1.75), reinforces the improvement in short-term momentum. The RSI at 50 reflects a balanced situation, neither overbought nor oversold, which leaves room for upside without any warning signals.
A rebound anchored in quarterly fundamentals, but demanding valuation
The recovery movement follows the Q1'27 revenue published on July 22, which showed a 23% year-over-year increase to €113 million, driven by the Photonics-SOI segment whose sales doubled over a year to support AI data center architectures. The guidance for Q2'27, raised to growth exceeding 30%, had triggered the wave of buybacks. Since then, the tax dispute settlement announced on July 29 has provided a clarification element: a maximum cash outflow of €60 million in Q3 2026-2027 and the waiver of €320 million in carried-forward losses.
Among identified risks, inventory correction among customers and uncertain market conditions remain factors to monitor. From a valuation perspective, according to the consensus of reviewed analysts, the stock is trading at a very high multiple on the current fiscal year, versus a significantly more moderate ratio on the following year—reflecting a normalization of earnings expected by the market. Resistance at €120.40, barely 6% above the current price, will be the first test of the solidity of this rebound.
