Infineon Technologies AG (IFNNF): New Buy Recommendation for This Technology Giant

Bernstein analyst Stacy Rasgon maintained a Buy rating on Infineon Technologies AG (IFNNFResearch Report) today and set a price target of EUR39.00. The company’s shares closed last Friday at $30.84, close to its 52-week low of $27.31.

According to TipRanks.com, Rasgon is a 4-star analyst with an average return of 7.7% and a 58.1% success rate. Rasgon covers the Technology sector, focusing on stocks such as Qualcomm, Nvidia, and Intel.

Infineon Technologies AG has an analyst consensus of Moderate Buy, with a price target consensus of $42.00, which is a 36.2% upside from current levels. In a report issued on May 23, Goldman Sachs also maintained a Buy rating on the stock with a EUR42.50 price target.

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Based on Infineon Technologies AG’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.3 billion and net profit of $469 million. In comparison, last year the company earned revenue of $2.7 billion and had a net profit of $203 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IFNNF in relation to earlier this year.

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Infineon Technologies AG engages in the provision of semiconductor and system solutions. It operates through the following segments: Automotive; Industrial Power Control; Power Management and Multimarket; and Digital Security Solutions. The Automotive segment designs, develops, manufactures, and markets semiconductor for automotive applications. The Industrial Power Control segment involves in the design, development, manufacture, and marketing of semiconductors for the generation, transmission, and economy in the use of electrical energy. The Power Management and Multimarket segment includes design, development, manufacture, and marketing of semiconductors for energy-efficient power supplies as well as for mobile devices and mobile phone network infrastructures. The Digital Security Solutions segment designs, develops, manufactures, and markets semiconductor-based security products for card applications and network systems. The company was founded on April 1, 1999 and is headquartered in Munich, Germany.

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