Infineon Technologies AG

Infineon Technologies is a semiconductor manufacturing company. The Automotive segment designs, develops, manufactures and markets semiconductors for use in automotive applications. The Industrial Power Control segment designs, develops, manufactures and markets semiconductors for the generation, transmission and economy in the use of electrical energy. The Power Management & Multimarket segment designs, develops, manufactures and markets semiconductors for power supplies, mobile devices and mobile phone network infrastructures. The Chip Card & Security segment designs, develops, manufactures and markets semiconductor-based security products for card applications and networked systems.
  • TickerIFX
  • ISINDE0006231004
  • SectorTechnology Hardware & Equipment
  • CountryGermany

Analysts

Frederic Yoboue

INFINEON: FY20 guidance withdrawn | NEUTRAL | EUR18.5 vs. EUR21 (+29%)

INFINEON - NEUTRAL | EUR18.5 vs. EUR21 (+29%) FY20 guidance withdrawn FY20 guidance cancelled, Q2 2020 at the low-end Significant disruption in customer production and demand Far from having the full picture yet We decrease our Fair Value from EUR21 to EUR18.5

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Stephane Houri
  • Team Pharma

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/10/2020

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Stephane Houri

Infineon Technologies AG : The CFIUS validates the acquisition of Cypress. That leaves China but probability is now very high

>The CFIUS validates the acquisition of Cypress by Infineon, despite last week’s rumours - Overnight, Infineon announced that the CFIUS (Committee on Foreign Investment in the U.S), which examines the acquisition of American companies by foreign investors, has validated the acquisition of Cypress Semiconductors. Note that on Friday last week, according to Bloomberg, sources close to the dossier had indicated that US national security officials were recommending that D...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Stephane Houri
  • Team Pharma

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/03/2020

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Stephane Houri

Infineon Technologies AG : CFIUS valide finalement l’acquisition de Cypress, reste la Chine mais la probabilité est désormais très élevée

>CFIUS valide finalement le rachat de Cypress Semiconductors par Infineon, malgré les rumeurs de la semaine dernière - Cette nuit, Infineon a annoncé que le CFIUS (Committee on Foreign Investment in the U.S), qui examine les rachats d'entreprises américaines par des étrangers, a finalement validé le rachat de Cypress Semiconductors. Rappelons que vendredi dernier, selon Bloomberg, des personnes ‘proches du dossier’ indiquaient que les responsables de la sécurité natio...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy Global equities were on a tear in early January, continuing the trend that began in 4Q2019. As global equities started to get extended, the coronavirus outbreak hit in mid-January, leading to some market setbacks and deterioration in market indicators as global growth expectations were dialed-in. Despite this deterioration, what was important to us was that there were not any breakdowns. Even the areas of the market most-directly affected by the outbreak -- China (MSCI China) and EM (MSCI EM) -- were not breaking down. To us, this was a reassuring sign of underlying stre...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Jérôme VINERIER

Analyse court terme - INFINEON TECHNOLOGIES AG : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 19,500 € prochainement. Le prochain objectif est à 15,900 €, puis 14,800 €. Le franchissement de 20,832 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - INFINEON TECHNOLOGIES AG : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €19.500. The next target is at €15.900, then €14.800. Passing €20.832 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - INFINEON TECHNOLOGIES AG : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 15,900 €. La tendance de fond serait remise en cause en cas de franchissement de 20,832 €.

Frederic Yoboue

INFINEON: FY20 guidance withdrawn | NEUTRAL | EUR18.5 vs. EUR21 (+29%)

INFINEON - NEUTRAL | EUR18.5 vs. EUR21 (+29%) FY20 guidance withdrawn FY20 guidance cancelled, Q2 2020 at the low-end Significant disruption in customer production and demand Far from having the full picture yet We decrease our Fair Value from EUR21 to EUR18.5

Stephane Houri

Infineon Technologies AG : The CFIUS validates the acquisition of Cypress. That leaves China but probability is now very high

>The CFIUS validates the acquisition of Cypress by Infineon, despite last week’s rumours - Overnight, Infineon announced that the CFIUS (Committee on Foreign Investment in the U.S), which examines the acquisition of American companies by foreign investors, has validated the acquisition of Cypress Semiconductors. Note that on Friday last week, according to Bloomberg, sources close to the dossier had indicated that US national security officials were recommending that D...

Stephane Houri

Infineon Technologies AG : CFIUS valide finalement l’acquisition de Cypress, reste la Chine mais la probabilité est désormais très élevée

>CFIUS valide finalement le rachat de Cypress Semiconductors par Infineon, malgré les rumeurs de la semaine dernière - Cette nuit, Infineon a annoncé que le CFIUS (Committee on Foreign Investment in the U.S), qui examine les rachats d'entreprises américaines par des étrangers, a finalement validé le rachat de Cypress Semiconductors. Rappelons que vendredi dernier, selon Bloomberg, des personnes ‘proches du dossier’ indiquaient que les responsables de la sécurité natio...

Stephane Houri

Infineon Technologies AG : The Infineon/Cypress deal blocked by the Trump administration?

>According to Bloomberg, US national security officials recommend that President Trump block the acquisition of Cypress by Infineon - According to Bloomberg, citing ‘sources close to the dossier’ US national security officials are recommending that Donald Trump block the planned acquisition of Cypress Semiconductor by Infineon. They are concerned that the agreement poses a risk to national security. Infineon, which on our estimates generates around 30% of its sales i...

Stephane Houri

Infineon Technologies AG : L’opération Infineon/Cypress bloquée par l’administration Trump ?

>Selon Bloomberg, la sécurité nationale américaine recommanderait au président Trump de bloquer le rachat de Cypress par Infineon - Selon Bloomberg, citant des personnes ‘proches du dossier’ les responsables de la sécurité nationale américaine recommanderaient que le président Donald Trump bloque le projet d'acquisition de Cypress Semiconductor par Infineon. Ils craignent que l'accord ne constitue un risque pour la sécurité nationale. Infineon, qui génère selon nous ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Stephane Houri
  • Team Pharma

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/10/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Stephane Houri
  • Team Pharma

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/03/2020

...

Ahmed Ben Salem ...
  • Jean Danjou
  • Jean Sassus
  • Jerôme Bodin
  • Laurence Hofmann
  • Manuel Martin, CEFA,CREA
  • Michael Foundoukidis
  • Pierre Tegner
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/06/2020

...

Ahmed Ben Salem ...
  • Jean Danjou
  • Jean Sassus
  • Jerôme Bodin
  • Laurence Hofmann
  • Manuel Martin, CEFA,CREA
  • Michael Foundoukidis
  • Pierre Tegner
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/03/2020

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/03/2020

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Expert Corporate Governance Service (ECGS)

Infineon Technologies - AGM 20 February 2020

Item 4: We recommend to oppose the discharge of the Supervisory Board due to the insufficient attendance of two Supervisory Board members in financial year 2018/2019. Item 5: KPMG, Munich, is proposed as auditor for the current financial year. While we have no concerns over the ratio of non-audit/audit fees, we note that KPMG has audited the Company since the financial year 1999 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of KPMG as auditor.

Infineon Technologies – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Infineon - February 21, 2019

Item 4: We recommend to oppose the discharge of the Supervisory Board due to the insufficient attendance of three Supervisory Board members in financial year 2017/2018 as well as due to our concerns that contrary to local and international best practice, the Chairman of the Supervisory Board also acts as the Chairman of the Audit Committee. Item 5: KPMG, Munich, is proposed as auditor for the current financial year. While we have no concerns over the ratio of non-audit/audit fees, we note that KPMG has audited the Company since the financial year 1999 which exceeds our maximum acceptable term...

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