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INFINEON TECHNOLOGIES AG

(IFX)
  Report
Real-time Estimate Tradegate  -  02:29 2022-09-28 pm EDT
23.15 EUR   -0.29%
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Infineon Sees EUR/USD at 1.05 Through September -- Currency Comment

08/03/2022 | 06:01am EDT

By Mauro Orru


Infineon Technologies AG assumes the euro will average 1.05 against the dollar until the end of September, meaning the single currency isn't expected to regain its strength over the greenback anytime soon.

The German chip maker's forecast is lower than a 1.10 estimate it had made in early May for its fiscal third quarter ending June 30. The euro last month slipped below parity with the U.S. dollar, reflecting Europe's sinking economic fortunes in the face of the war in Ukraine.

"Based on an assumed exchange rate of US$1.05 to the euro, Infineon expects to generate revenue of around €3.9 billion in the fourth quarter of the 2022 fiscal year," Infineon said Wednesday. Infineon's fourth quarter closes at the end of September.

The euro currently trades at $1.0189.

Infineon's latest forecast is lower than a 1.09 assumption by peer chip maker STMicroelectronics NV last week. STMicroelectronics based its guidance for the quarter closing Oct. 1 on a 1.09 exchange rate against the dollar.

The euro has been on a steady decline this year as investors girded for Russia to enact a full-blown gas cutoff that many fear will drive the region into a deep recession.


Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94


(END) Dow Jones Newswires

08-03-22 0600ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.11% 0.66976 Delayed Quote.5.33%
BRITISH POUND / EURO (GBP/EUR) -0.01% 1.11746 Delayed Quote.-5.98%
BRITISH POUND / US DOLLAR (GBP/USD) 1.36% 1.0875 Delayed Quote.-20.44%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.61% 0.754614 Delayed Quote.8.86%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.79% 0.73433 Delayed Quote.0.00%
ENACT HOLDINGS, INC. 3.37% 22.68 Delayed Quote.6.14%
EURO / US DOLLAR (EUR/USD) 1.40% 0.97296 Delayed Quote.-15.60%
INDIAN RUPEE / EURO (INR/EUR) -0.98% 0.012633 Delayed Quote.8.09%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.11% 0.012253 Delayed Quote.-8.75%
INFINEON TECHNOLOGIES AG -0.60% 23.08 Delayed Quote.-43.03%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 1.60% 0.572 Delayed Quote.-17.14%
STMICROELECTRONICS N.V. -2.64% 33.62 Real-time Quote.-20.38%
US DOLLAR / EURO (USD/EUR) -1.37% 1.027791 Delayed Quote.18.19%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.77% 57.7 Delayed Quote.-21.89%
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Analyst Recommendations on INFINEON TECHNOLOGIES AG
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Financials
Sales 2022 13 976 M 13 477 M 13 477 M
Net income 2022 2 066 M 1 992 M 1 992 M
Net Debt 2022 2 397 M 2 312 M 2 312 M
P/E ratio 2022 14,5x
Yield 2022 1,37%
Capitalization 30 230 M 29 151 M 29 151 M
EV / Sales 2022 2,33x
EV / Sales 2023 2,12x
Nbr of Employees 54 946
Free-Float 99,6%
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Number of Analysts 22
Last Close Price 23,22 €
Average target price 37,50 €
Spread / Average Target 61,5%
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Managers and Directors
Jochen Hanebeck Chief Executive Officer
Sven Schneider Chief Financial Officer
Wolfgang Eder Chairman-Supervisory Board
Rutger Wijburg Chief Operating Officer
Manfred Puffer Member-Supervisory Board
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