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

Shares of Infineon Technologies AG (OTCMKTS:IFNNY) gapped down before the market opened on Thursday. The stock had previously closed at $60.91, but opened at $56.39. Infineon Technologies shares last traded at $56.82, with a volume of 41,530 shares trading hands.

Wall Street Analysts Forecast Growth

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

Infineon Technologies Trading Down 2.3%

The company has a market cap of $75.91 billion, a P/E ratio of 51.55, a P/E/G ratio of 0.41 and a beta of 2.26. The stock’s 50-day moving average is $66.22 and its two-hundred day moving average is $71.91. 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 posted its earnings results on Wednesday, August 5th. The technology company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.76 billion. Infineon Technologies had a net margin of 8.37% and a return on equity of 11.39%. As a group, equities research analysts predict that Infineon Technologies AG will post 2.01 earnings per share for the current fiscal year.

About Infineon Technologies

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.