Zacks Investment Research upgraded shares of Infineon Technologies AG (OTCMKTS:IFNNY) from a sell rating to a hold rating in a research report released on Monday morning.

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.”

Other analysts have also issued reports about the company. Goldman Sachs Group Inc. reaffirmed a hold rating on shares of Infineon Technologies AG in a research report on Tuesday, October 18th. Sanford C. Bernstein reaffirmed 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 assigned a buy rating to the company’s stock. Infineon Technologies AG currently has a consensus rating of Hold and an average price target of $16.00.

Analyst Recommendations for Infineon Technologies AG (OTCMKTS:IFNNY)

Shares of Infineon Technologies AG (OTCMKTS:IFNNY) opened at 16.886 on Monday. Infineon Technologies AG has a 52-week low of $11.59 and a 52-week high of $18.10. The stock has a 50 day moving average price of $17.30 and a 200-day moving average price of $16.16. The firm has a market capitalization of $19.02 billion, a PE ratio of 21.108 and a beta of 1.20.

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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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