Infineon: confirms annual targets - share up
(CercleFinance.com) - Infineon confirmed its annual targets on Tuesday at a virtual CMD, an announcement that made the stock one of the best performers in the DAX index in early trading.
Based on indications currently available, the German chip manufacturer says that it is still aiming for a sales of around 11 billion euros in 2021 for an operating margin of at least 18%.
For FY 2022, the Munich-based group says it expects sales growth of around 15%, with an operating margin of about 20%.
Infineon says its optimism is undepinned by increasing vehicle electrification and the acceleration of digital transformation, two trends which it believes semiconductors will play a major role in.
Following these comments, the share was up over 1% in early morning trading on Tuesday, the fourth largest riser on a DAX index that now has 40 member stocks.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Based on indications currently available, the German chip manufacturer says that it is still aiming for a sales of around 11 billion euros in 2021 for an operating margin of at least 18%.
For FY 2022, the Munich-based group says it expects sales growth of around 15%, with an operating margin of about 20%.
Infineon says its optimism is undepinned by increasing vehicle electrification and the acceleration of digital transformation, two trends which it believes semiconductors will play a major role in.
Following these comments, the share was up over 1% in early morning trading on Tuesday, the fourth largest riser on a DAX index that now has 40 member stocks.
Copyright (c) 2021 CercleFinance.com. All rights reserved.