|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||43.95 - 44.33|
|52 Week Range||27.43 - 44.96|
|Beta (5Y Monthly)||1.49|
|PE Ratio (TTM)||64.08|
|Forward Dividend & Yield||0.27 (0.61%)|
|Ex-Dividend Date||Feb 26, 2021|
|1y Target Est||54.50|
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(Bloomberg) -- The amount of time that automakers and other companies need to wait for chip orders to get filled rose yet again in September, signaling that semiconductor shortages will continue to hamper the global economic recovery from the Covid-19 pandemic.Most Read from BloombergNYC's Waldorf Gets Plush Renovation, Becomes Icon of China's OverreachHow France Turned the Humble Roundabout Into a Showcase for ArtWhat the Front Line of the U.S. Abortion Fight in Kentucky Looks Like NowTycoon Be
German chipmaker Infineon Technologies said on Tuesday it plans a 50% hike in investments next year, boosting its shares as it looks to benefit from soaring demand and a global shortage in semiconductors. Infineon said it would invest around 2.4 billion euros ($2.8 billion) in 2022, up from about 1.6 billion euros this year. "We are initially investing in existing plants," finance chief Sven Schneider told Reuters.
A 3.5% jump in European banks and a rally in beaten down technology companies pushed an index of European stocks up over 1% on Tuesday, also helped by positive U.S. data bolstering Wall Street. Chipmaker Infineon's 4.8% climb led gains after it confirmed its 2021 revenue and said it expects results to rise further next year. JPMorgan said it is still "overweight" on European banks citing upside to capital return and rates outlook.