Infineon: raised targets snubbed by market
(CercleFinance.com) - Infineon raised its annual forecasts again on Monday, as the semiconductor manufacturer continues to benefit from demand that exceeds its current production capacity.
The German chipmaker now expects sales of around 13.5 billion euros in FY 2021-2022 (year ending 30 September), compared with its previous forecast of 13 billion euros.
The Neubiberg-based group therefore expects its FY operating margin to exceed 22%, compared with a previous expectation of around 22%.
In Q2 to end-March, Infineon posted an operating profit that is up 6% to 761 million euros, i.e. a margin of 23.1%.
Sales rose by 4% to almost 3.3 billion euros.
Highlighting global uncertainties - in particular the war in Ukraine - and the ongoing coronavirus crisis, it acknowledges that its supply chains are under pressure.
All said, Infineon's share price was down 1% at around 9.30am, while the DAX index of leading German stocks was pretty flat.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The German chipmaker now expects sales of around 13.5 billion euros in FY 2021-2022 (year ending 30 September), compared with its previous forecast of 13 billion euros.
The Neubiberg-based group therefore expects its FY operating margin to exceed 22%, compared with a previous expectation of around 22%.
In Q2 to end-March, Infineon posted an operating profit that is up 6% to 761 million euros, i.e. a margin of 23.1%.
Sales rose by 4% to almost 3.3 billion euros.
Highlighting global uncertainties - in particular the war in Ukraine - and the ongoing coronavirus crisis, it acknowledges that its supply chains are under pressure.
All said, Infineon's share price was down 1% at around 9.30am, while the DAX index of leading German stocks was pretty flat.
Copyright (c) 2022 CercleFinance.com. All rights reserved.