Today: Infineon Technologies AG (IFNNY) Upgrade at The Zacks Investment Research

Today: Infineon Technologies AG (IFNNY) Upgrade at The Zacks Investment Research

Infineon Technologies AG (OTCMKTS:IFNNY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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.”

IFNNY has been the subject of several other research reports. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Infineon Technologies AG in a research note on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “hold” rating on shares of Infineon Technologies AG in a research note on Tuesday, October 18th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.00.

Shares of Infineon Technologies AG (OTCMKTS:IFNNY) traded down 0.501% during midday trading on Monday, hitting $16.885. The stock had a trading volume of 68,427 shares. The company’s 50 day moving average is $17.33 and its 200 day moving average is $16.10. Infineon Technologies AG has a 52 week low of $11.59 and a 52 week high of $18.10. The firm has a market cap of $19.01 billion, a P/E ratio of 20.492 and a beta of 1.20.

Infineon Technologies AG Company Profile

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