Arkeon Finance confirms "buy" rating on French Soitec

Feb 2, 2012 - Arkeon Finance has maintained its "buy" recommendation on French silicon-on-insulator wafers maker Soitec (EPA:SOI), keeping its share price target at EUR 8.

The broker believes that the group's stock will continue to be boosted by Soitec's activity, especially by the new contracts in solar energy industry.

Today the silicon-on-insulator wafers maker announced the completion of the acquisition of French Altatech Semiconductor. The price of the deal is EUR 15 million (USD 19.7m), paid in cash and stock.

Shares in Soitec had inched up 0.53% to EUR 4.78 on Euronext Paris today at 1350 CET.

(EUR 1.0 = USD 1.317)

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