Infineon Technologies AG (IFNNY) Rating Lowered to Sell at Zacks Investment Research
Infineon Technologies AG (OTCMKTS:IFNNY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Infineon's concerted efforts to streamline its operating cost structure, is proving conducive to the company’s profitability. Currently, the company is focusing on three growth areas, namely, demographic trends, demand for resources, and connectivity & digitalization, to maximize its prospects. Going forward, strong foothold in the automotive and power markets is expected to propel growth. This apart, the Wolfspeed acquisition looks promising for RF power solutions. Meanwhile, estimates have been going down ahead of the company's Q4 earnings release. However, the company operates in a highly competitive environment, which might compel it to reduce prices or increase spending. In addition, persistent weakness in the global smarphone market may prove to be a major deterrent for the company.”
Several other analysts also recently weighed in on IFNNY. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Infineon Technologies AG in a report on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “hold” rating on shares of Infineon Technologies AG in a report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.00.
Shares of Infineon Technologies AG (OTCMKTS:IFNNY) opened at 17.43 on Monday. The stock has a 50 day moving average of $17.37 and a 200 day moving average of $16.06. Infineon Technologies AG has a 1-year low of $11.59 and a 1-year high of $18.10.
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Infineon Technologies AG Company Profile
Infineon Technologies AG develops, manufactures and markets a range of semiconductors and system solutions. The Company operates through four segments: Automotive; Industrial Power Control; Power Management & Multimarket, and Chip Card & Security. The Automotive segment designs, develops, manufactures and markets semiconductors for use in automotive applications.
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