Infineon Technologies AG (NASDAQ:IFNNY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, October 18th.
According to Zacks, “Infineon continues to encounter difficulties with the cyclical nature of the semiconductor industry which witnesses price erosion and evolving standards. The existing players in the market also form a huge competition for the company. The company is currently facing a headwind from the flaw in its encryption technology. Notably, estimates have gone down lately, ahead of the company's Q4 earnings release. The company has negative record of earnings surprises in recent quarters. However, Infineon holds a dominating position in the xEV power semiconductor market. Moreover, the company’s focus on developing energy-efficient solutions is a key catalyst going ahead. We note that the company has outperformed the industry on a year-to-date basis.”
Other research analysts also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Infineon Technologies AG in a report on Thursday, September 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Infineon Technologies AG in a report on Tuesday, September 12th.
Infineon Technologies AG (IFNNY
) traded up 0.26% during trading on Wednesday, hitting $27.31. The stock had a trading volume of 70,497 shares. Infineon Technologies AG has a 1-year low of $16.16 and a 1-year high of $27.34. The stock’s 50-day moving average price is $25.48 and its 200-day moving average price is $22.70. The company has a market capitalization of $30.83 billion and a P/E ratio of 30.82.
Infineon Technologies AG (NASDAQ:IFNNY) last issued its earnings results on Tuesday, August 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.08 billion. Infineon Technologies AG had a return on equity of 18.51% and a net margin of 13.65%. Analysts expect that Infineon Technologies AG will post $1.05 earnings per share for the current year.
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About Infineon Technologies AG
Infineon Technologies AG is a Germany-based designer, developer and manufacturer of semiconductors and related 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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