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

Infineon Technologies AG (OTCMKTS:IFNNY)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $49.97, but opened at $53.94. Infineon Technologies shares last traded at $53.94, with a volume of 18,621 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IFNNY shares. Zacks Research downgraded 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 report on Thursday, August 27th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Infineon Technologies Trading Up 6.2%

The stock’s fifty day simple moving average is $62.92 and its 200-day simple moving average is $65.36. The firm has a market cap of $70.82 billion, a PE ratio of 48.09, a PEG ratio of 0.36 and a beta of 2.29. 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 Company Profile

Infineon Technologies AG is a Germany-based semiconductor company headquartered in Neubiberg. The company develops and manufactures chips and related solutions for automotive, industrial, consumer, communications and security applications. Infineon originated as the semiconductor business of Siemens and became an independent company in 1999.

Its products include automotive semiconductors, power semiconductors and sensors, microcontrollers, and security chips. These technologies support applications such as vehicle electrification and driver-assistance systems, energy conversion and management, industrial automation, connected devices and digital security.

Infineon serves customers worldwide, with operations and business activities spanning multiple regions.