Infineon Technologies AG (ADR) (OTCBB: IFNNY) rated to Hold by Drexel Hamilton
Drexel Hamilton rated
Infineon Technologies AG (ADR) (OTCBB: IFNNY) to Hold.
Infineon Technologies AG (Infineon) designs, develops, manufactures and markets a range of semiconductors and complete system solutions used in a variety of microelectronic applications, including computer systems, telecommunications systems, consumer goods, automotive products, industrial automation and control systems, and chip card applications. Its products include standard commodity components, full-custom devices, semi-custom devices, and application-specific components for analog, digital, and mixed-signal applications. It operates under four segments: Automotive, Industrial and Multimarket, Chip Card and Security, and Wireless Solutions. Infineon operations are located primarily in Europe, Asia and North America. On January 23, 2009, Qimonda filed an application to commence insolvency proceedings. On March 4, 2009, the Company sold the business of its wholly-owned subsidiary Infineon Technologies SensoNor AS. On July 7, 2009, Infineon sold Wireline Communications business.