Infineon Technologies (OTCMKTS:IFNNY) Shares Climb 7.9% – Time to Buy?

Infineon Technologies AG (OTCMKTS:IFNNY) shares traded up 7.9% on Friday. The company traded as high as $73.00 and last traded at $72.77. Approximately 37,589 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 387,400 shares. The stock had previously closed at $67.43.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IFNNY. Zacks Research downgraded shares of Infineon Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. DZ Bank raised shares of Infineon Technologies to a “strong-buy” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Infineon Technologies currently has an average rating of “Moderate Buy”.

Infineon Technologies Stock Performance

The stock’s 50-day moving average price is $67.10 and its 200 day moving average price is $70.45. The firm has a market cap of $94.55 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 0.75 and a beta of 2.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.73 and a quick ratio of 0.97.

Infineon Technologies (OTCMKTS:IFNNY) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Infineon Technologies had a net margin of 8.37% and a return on equity of 11.39%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.76 billion. As a group, equities analysts predict that Infineon Technologies AG will post 2.02 EPS for the current year.

Infineon Technologies Company Profile

Infineon Technologies AG is a semiconductor company headquartered in Neubiberg, Germany. The company develops and manufactures semiconductor solutions for the automotive, industrial, communications, consumer electronics and energy markets. Its portfolio includes power semiconductors, microcontrollers, sensors, connectivity components and security products.

Infineon’s automotive products support applications such as electric and hybrid vehicles, vehicle power management, advanced driver-assistance systems and automotive connectivity.