Infineon Technologies AG (IFNNY) Rating Increased to Hold at Zacks Investment Research
Infineon Technologies AG (OTCMKTS:IFNNY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Infineon's fourth-quarter fiscal 2016 results disappointed us. The company missed the Zacks Consensus Estimates on both lines. Notably, the stock price has underperformed the broader market on a year-to-date basis. However, the fiscal 2017 guidance was positive. We believe that Infineon has significant growth opportunities in the Automotive market due to growing hybrid and fully electric vehicles globally, including China. Growing demand for its insulated-gate bipolar transistors (IGBT) for partially and fully electric cars along with radar chips are worth mentioning in this regard. Moreover, the company’s focus on developing energy-efficient solutions will be a key catalyst going ahead. However, we believe slowdown in smartphone sales can prove to be a major drag. Additionally, the cyclical nature of the semiconductor industry, and price erosion is likely to be major headwinds going ahead.”
Several other equities analysts also recently commented on the company. Goldman Sachs Group Inc. restated a “hold” rating on shares of Infineon Technologies AG in a research report on Tuesday, October 18th. Sanford C. Bernstein restated a “buy” rating on shares of Infineon Technologies AG in a research report on Monday, September 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.
Infineon Technologies AG (OTCMKTS:IFNNY) opened at 16.97 on Monday. The company has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00. Infineon Technologies AG has a 52-week low of $11.59 and a 52-week high of $18.10.
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About Infineon Technologies AG
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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