Shares of Infinera Corporation (NASDAQ:INFN) have earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.82.
A number of research firms recently commented on INFN. Citigroup Inc. raised shares of Infinera Corporation from a “sell” rating to a “neutral” rating and set a $10.00 price objective on the stock in a report on Monday. Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Infinera Corporation in a report on Tuesday, September 19th. MKM Partners decreased their price objective on shares of Infinera Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Finally, B. Riley reissued a “buy” rating and set a $14.00 price objective on shares of Infinera Corporation in a report on Wednesday, August 9th.
In other Infinera Corporation news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. US Bancorp DE raised its position in shares of Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 1,186 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Infinera Corporation in the first quarter valued at approximately $106,000. Fred Alger Management Inc. acquired a new position in shares of Infinera Corporation in the second quarter valued at approximately $107,000. AlphaOne Investment Services LLC acquired a new position in shares of Infinera Corporation in the second quarter valued at approximately $108,000. Finally, Summit Securities Group LLC acquired a new position in shares of Infinera Corporation in the second quarter valued at approximately $109,000. 86.67% of the stock is owned by institutional investors and hedge funds.
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Infinera Corporation (NASDAQ INFN) opened at 8.46 on Wednesday. The company’s 50 day moving average is $8.56 and its 200 day moving average is $9.84. The firm’s market cap is $1.25 billion. Infinera Corporation has a 52-week low of $7.23 and a 52-week high of $12.50.
Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The firm’s quarterly revenue was down 31.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Equities research analysts forecast that Infinera Corporation will post ($0.56) EPS for the current fiscal year.
Infinera Corporation Company Profile
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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