Soitec Shares Tumble Over 14% Following Analyst Revisions
The Isère-based semiconductor substrate specialist faces a major shock in early afternoon trading. Two contrasting analyst notes sway the stock, making it the worst performer on the broad Paris index. The movement abruptly interrupts an otherwise exceptional quarterly dynamic.
Jefferies Downgrades to Underperform
Soitec's stock plunges 14.34% to €120.05, becoming the worst performer on the SBF 120, while the index itself is down 0.59%. This follows Jefferies' decision to lower its rating from 'hold' to 'underperform', while paradoxically raising its price target from €45 to €85. The broker believes that revenues from Photonics-SOI (about 15% of the fiscal 2026 turnover) will not accelerate until 2029, due to limited adoption of Co-Packaged Optics technologies. The analyst also points out an excess inventory in RF-SOI which could persist until fiscal 2028, as smartphone delivery forecasts for 2027 worsen. Berenberg, more measured, maintains its 'hold' rating with a target raised from €28 to €138, though it considers the valuation stretched. The stock is trading at approximately 32 times the EV/EBITDA for 2028 according to Jefferies.
A Sharp Drop That Brings the Price Back to Its 50-Day Moving Average
Today's downturn mechanically brings the stock back to its 50-day moving average at €122.45, slightly breaking it by -1.96%. The 20-day moving average at €158.85 is now 24% above the current price, indicating an ongoing technical breakdown. The RSI at 48 remains neutral, reflecting the magnitude of the decline already absorbed without any sign of seller exhaustion. Over the week, the stock has lost nearly 22%, and about 30% over a month. However, the quarterly performance remains spectacular at +187%, and the price is still more than double its 200-day moving average. In terms of positioning, the cumulative net short positions reach 1.82% of the capital distributed among two funds, according to reviewed declarations. The short selling pressure has significantly eased over a month (6.92% thirty days ago), suggesting that institutional bearish bets had largely been unwound before the session. At the annual publication on May 27, 2026, the company highlighted the growing adoption of Photonics-SOI for data centers as a main rebound lever.
