Infineon Technologies (OTCMKTS:IFNNY) Shares Gap Up – Here’s What Happened

Infineon Technologies AG (OTCMKTS:IFNNY) gapped up before the market opened on Tuesday. The stock had previously closed at $65.01, but opened at $67.57. Infineon Technologies shares last traded at $67.0837, with a volume of 7,844 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on IFNNY. DZ Bank raised Infineon Technologies to a “strong-buy” rating in a research report on Thursday, August 27th. Zacks Research downgraded Infineon Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Infineon Technologies has a consensus rating of “Moderate Buy”.

Infineon Technologies Stock Up 3.3%

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.73 and a quick ratio of 0.97. The business has a 50 day simple moving average of $67.68 and a 200 day simple moving average of $70.02. The stock has a market cap of $87.50 billion, a PE ratio of 59.42, a P/E/G ratio of 0.73 and a beta of 2.23.

Infineon Technologies (OTCMKTS:IFNNY) last announced 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 return on equity of 11.39% and a net margin of 8.37%.The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.76 billion. On average, equities research analysts forecast that Infineon Technologies AG will post 2.02 EPS for the current fiscal 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.