Soitec stock among the top performers of the SBF 120, +37% over one month
After yesterday's decline, Soitec regains momentum this Tuesday, September 29 morning and ranks among the best performances of the SBF 120. The rebound occurs in a slightly higher Paris market, while the stock maintains an exceptional track record over one year, driven since early September by the acceleration of its Photonics-SOI business activity.
A rebound of nearly 4% that reduces the weekly decline, in a slightly higher SBF 120
The Soitec stock gains 3.79% during the session at 147.95 €, recovering some of the ground lost during recent declining sessions, which had reduced the weekly decline to -4.46%. The SBF 120 advances for its part by 0.28% during the session, placing Soitec among the strongest gains in the index. Over a one-month rolling period, the performance remains spectacular with nearly 37% in gains, to be put into context of a rally that began in early September after Soitec raised its revenue growth forecast to approximately 50% for Q2, leveraging demand for its Photonics-SOI business. Over one year, the stock shows a gain of nearly 290%, one of the highest on the Paris stock exchange.
The stock progresses towards its resistance at 154.85 €, with a balanced RSI at 58
From a technical standpoint, Soitec is trading at 147.95 €, well above its three moving averages: the 20-day MA at 136.67 € (difference of +8.25%), the 50-day MA at 122.04 € (+21.23%) and the 200-day MA at 89.68 € (+64.98%). The stock is thus progressing towards its resistance at 154.85 €, which it has not yet tested since breaking through the resistance at 146.35 € during the September 21 session. The RSI at 58 remains in neutral territory, far from an overbought signal, which leaves room before the bullish momentum becomes technically constrained.
Valuation nevertheless remains elevated: according to the consensus of surveyed analysts, the stock trades at approximately 44 times expected earnings for the following fiscal year. The analyst opinions on the stock, regularly revised since the beginning of the rally, remain a benchmark to monitor in this context of tight valuation. The resistance at 154.85 € now constitutes the next technical reference level.
