Kepler Cheuvreux cuts Soitec to hold, warns on photonics optimism

Soitec SA

22/04/2026 11:02

** Kepler Cheuvreux cuts French semiconductor materials supplier Soitec SOIT.PA to "hold" from "buy", citing overly bullish expectations for its photonics business and limited near-term upside to estimates

** "Soitec has performed extremely well since the start of the year and we believe consolidation could happen in the coming weeks," the brokerage says, though lifting its price target to EUR 100 from 65

** While photonics make around 15% of sales, Kepler argues the company also remains impacted by large inventory corrections in its radio-frequency products division and a weak smartphone market with dropping volumes

** Soitec up 9.7% by 0956 GMT, bringing YTD gains to 375%

** Among the 17 analysts covering Soitec, five rate the stock "strong buy" or "buy," ​ten rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Clement Martinot)

 ((Clement.Martinot@thomsonreuters.com;))