Thursday was a good day for Infineon boss Reinhard Ploss.
In the morning, the chief executive of the Munich-based semiconductor giant announced fourth-quarter results that beat even the most optimistic forecasts. By the afternoon, Infineon shares had jumped 15 percent to top €13, or $13.80, on Germany’s blue-chip DAX stock index. The chipmaker’s stock was suddenly trading at its highest level in over a decade.
Mr. Ploss has overseen a year of big changes at the company. In early 2015, Infineon spent $3 billion to acquire its California-based competitor International Rectifier, resulting in additional annual revenue of about €900 million.
That buy-up boosted the chipmaker’s fourth-quarter revenue by more than a third, to €1.6 billion. Revenue for the fiscal year ending September 30 also rose by more than a third, to nearly €5.8 billion.