Today: Infineon Technologies AG (IFNNY) Upgrade to Hold by The Zacks Investment Research

Today: Infineon Technologies AG (IFNNY) Upgrade to Hold by 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 report released 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.”

A number of other research firms also recently weighed in on IFNNY. Goldman Sachs Group Inc. reissued a “hold” rating on shares of Infineon Technologies AG in a report on Tuesday, October 18th. Sanford C. Bernstein reissued a “buy” rating on shares of Infineon Technologies AG in a report on Monday, September 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Infineon Technologies AG (OTCMKTS:IFNNY) traded down 0.501% during mid-day trading on Monday, reaching $16.885. The company had a trading volume of 71,493 shares. The firm has a 50-day moving average of $17.33 and a 200 day moving average of $16.10. Infineon Technologies AG has a 1-year low of $11.59 and a 1-year high of $18.10. The company has a market capitalization of $19.01 billion, a PE ratio of 20.492 and a beta of 1.20.

About Infineon Technologies AG

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