Soitec Shares Drop 2.5% and Fall Below €116.50 Support Level
The Isère-based semiconductor substrate specialist has erased part of its rebound from the previous day. The stock is among the biggest decliners in the broad Paris index in a downward trending Parisian market. However, the downward pressure from short-selling funds continues to significantly ease.
The stock falls below its €116.50 support level and remains far from its moving averages
Soitec shares fell by 2.63% to €109.30 in mid-morning trading, among the sharpest declines in the SBF 120. The stock has significantly fallen below its technical support at €116.50, which had been breached on Tuesday and then briefly regained during an 8% rebound the previous day. The price remains significantly distant from its short-term moving averages, with a 23.53% gap below the MM20 (€142.93) and a 20.15% gap below the MM50 (€136.89), indicating the severity of the correction over the past month.
The RSI at 44 remains neutral, with no oversold signal despite a 38% decline over a month. The underlying momentum remains dramatic, with the stock still up more than 100% over three months and 135.9% over a year.
Short positions significantly retract after a high plateau at the end of May
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According to reviewed statements, two funds now hold a combined net short position of 1.14% of the capital, compared to 3.20% a month ago. The retreat of more than two percentage points in thirty days reflects a gradual covering movement after the high plateau reached at the end of May, when the stock soared following the annual accounts. This easing of bearish positioning accompanies but does not trigger the aborted rebound from the previous day, without yet signaling a complete reversal of sentiment as shorts remain.
The sequence remains to be followed without overinterpretation, in a globally turbulent semiconductor sector. On the fundamentals side, during the annual results for the fiscal year 2026 published on May 27, 2026, the group had highlighted among its growth levers the adoption of Photonics-SOI solutions for data centers and the artificial intelligence market, contrary to an environment still penalized by the correction of RF-SOI client inventories.
Le chiffre d'affaires du T1'27 ressort au-dessus de notre objectif, porté par la forte accélération des activités liées à l'IA, dont les ventes en Photonics-SOI ont doublé sur un an.
Le chiffre d'affaires du premier trimestre 2026-2027 atteint 113 M€, en hausse de 23 % sur un an à périmètre et taux de change constants, au-dessus de l'objectif d'environ 15 %. La croissance est portée par l'Edge & Cloud AI (65 M€, +46 %) grâce au doublement des ventes de Photonics-SOI pour les data centers IA, et par l'Automobile & Industrie (10 M€, +108 % sur base de comparaison faible), tandis que les Communications Mobiles reculent de 10 % à 39 M€ dans un marché des smartphones sous pression et avec la correction des stocks RF-SOI. L'usine SOI 300mm de Singapour a été qualifiée auprès de premiers clients pour la production en grande série de Photonics-SOI.
Risks mentioned
Marché des smartphones sous pression et correction des stocks excédentaires chez les clients RF-SOI
Baisse des prix du POI compensant la hausse des volumes
Activité Automobile & Industrie atone, avec base de comparaison faible
Perspectives Photonics-SOI conditionnées à l'absence de perturbation majeure sur le marché de l'IA
Opportunities identified
Doublement des ventes de Photonics-SOI sur un an, tiré par les data centers IA
Qualification de l'usine SOI 300mm de Singapour pour la production en grande série de Photonics-SOI
Engagements pluriannuels avec acomptes clients sécurisant la capacité de production
Accord à long terme avec Skyworks renforçant la visibilité sur le POI
Partenariat avec ZenSemi pour industrialiser le 300mm BCD-sur-SOI en électronique de puissance
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