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

Infineon Technologies AG (OTCMKTS:IFNNY) gapped down before the market opened on Friday . The stock had previously closed at $99.09, but opened at $91.11. Infineon Technologies shares last traded at $89.7625, with a volume of 56,581 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IFNNY shares. UBS Group cut shares of Infineon Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. upgraded shares of Infineon Technologies from a “neutral” rating to an “overweight” rating in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Infineon Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 12th. Finally, Zacks Research cut Infineon Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Infineon Technologies presently has an average rating of “Moderate Buy”.

Infineon Technologies Stock Down 9.8%

The company has a current ratio of 1.59, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $66.49 and its two-hundred day simple moving average is $53.53. The firm has a market cap of $116.43 billion, a price-to-earnings ratio of 87.59, a PEG ratio of 1.23 and a beta of 2.22.

Infineon Technologies (OTCMKTS:IFNNY) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). Infineon Technologies had a return on equity of 11.07% and a net margin of 7.84%.The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.46 billion. On average, equities analysts forecast that Infineon Technologies AG will post 2.03 EPS for the current year.

About Infineon Technologies

Infineon Technologies AG (OTCMKTS:IFNNY) is a global semiconductor manufacturer that develops, manufactures and markets a broad range of semiconductor and system solutions. The company’s product portfolio includes power semiconductors and modules, microcontrollers and system-on-chip (SoC) solutions, analog and mixed-signal components, sensors and security controllers. Infineon’s technologies are used to enable energy-efficient power conversion, electrification, connectivity and secure data processing across multiple end markets.

Infineon was formed as a spin-off from Siemens AG in 1999 and is headquartered near Munich in Neubiberg, Germany.