Infineon’s Automotive Growth Drives On; Maintain EUR 14 Fair Value Estimate
Infineon reported solid fiscal fourth-quarter results and provided investors with forecasts for its fiscal first quarter and for all of fiscal 2017 (ending in September) that are squarely in line with our prior expectations and point toward healthy business conditions for the firm, particularly within the company’s automotive segment. We will maintain our narrow moat rating for Infineon and our fair value estimates of EUR 14 per share and $15 per U.S. ADR. While we remain fond of the firm’s pros...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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