Infineon: CMD feedback: Increased ST risk profile, but necessary to meet attractive LT prospects
Infineon: (BUY, Fair Value EUR26.7 (+9%))CMD feedback: Increased ST risk profile, but necessary to meet attractive LT prospects
Yesterday, Infineon held its CMD during which the company gave more details on the visibility and confidence they have in its recently updated prospects. Not only the structural drivers are solid, but the leading position of the company combined with stickiness in clients’ portfolio and long-term life products give better-than-industry-average visibility. However, while we trust the quality of the management and understand the need to prepare for the attractive LT opportunities today, the important investments plan somehow downgrades the risk profile of the company it the short-term.
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.
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