Berenberg Adjusts Infineon FY26 Forecasts After Fiscal Q3 Results; Buy Maintained

11:13 AM EDT, 08/06/2026 (MT Newswires) -- Berenberg adjusted its forecasts for Infineon Technologies (IFX.F) but maintained its bull thesis, noting that the recovery in the German semiconductor company's non-artificial intelligence business remains underway. "On 5 August, Infineon reported its Q3 2026 results and guided to a lower-than-expected segment result margin for Q4, which was viewed as a disappointment by investors following positive reports from its analog semiconductor peers. During the conference call, the company explained that the positive margin impact from price increases will mainly contribute next year, and that there will be cost increases in Q4. However, this margin guidance remains conservative, as is typical for Infineon," analysts said in a note published Thursday. "In the AI market, which has been the main focus for the company, it is experiencing demand for AI power solutions exceeding available supply, leaving these solutions on allocation. ... For the non-AI business, Infineon observed a pickup in automotive demand from customers against the backdrop of a muted car market, while the long-term trends driving automotive semiconductor demand remain firmly intact." Against this backdrop, the research firm reduced its EBIT and EPS estimates for fiscal 2026 by 3.4% and 3.8%, respectively, while the sales projection for the year was unchanged. The buy recommendation on the stock and 100 euro price target were retained.