Soitec: Global Tech Conference 2026: Confident in Photonics

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Soitec: Global Tech Conference 2026: Confident in Photonics

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Soitec

Global Tech Conference 2026: Confident in

Photonics

Maintain Rating: NEUTRAL | PO: 193.00 EUR | Price: 146.65 EUR

Optical growing and Mobile sluggish; Maintain Neutral 08 June 2026

We hosted Soitec’s new CEO Laurent Rémont, CFO Albin Jacquemont and IR Alexandre Equity

Petovari for mgmt. meetings at our Global Tech Conference in San Francisco. Soitec

provided color on the moving parts around its updated >30% growth guide for Oliver Wong >> Research Analyst

Photonics-SOI and discussed other product lines. We believe Photonics-SOI will MLI (UK)

experience strong growth as customers expand SiPho wafer capacity and as CPO ramps. +44oliver.wong2@bofa.com20 7995 9014

But given the strong YTD rally base and given Photonics accounted for only ~15% of Didier Scemama >>

FY26 revenue with the core Mobile business still under pressure, we view the current Research Analyst

MLI (UK)

risk/reward as balanced. Maintain Neutral with unchanged €193 PO on SOTP valuation, +44 20 7995 6751

enclosed in report. didier.scemama@bofa.com

Amelia Banks >>

Several moving parts for >30% Photonics growth guide ResearchMLI (UK) Analyst

Soitec takes a conservative stance with its >30% Photonics growth guide, due to past +44 20 7995 3554

amelia.banks@bofa.com

missed targets and because the timing of component supply and CPO qualification/

volumes may impact growth on a quarterly basis. Soitec has more than 10 customers for

SiPho, with accelerating orders in the last few months, and is operating at near-100%

utilization for Photonics and increasing capacity. It is already shipping for CPOs with Stock Data

volume ramp expected in CY27. Factors influencing Photonics revenue growth include Price 146.65 EUR