Infinera Corporation (NASDAQ:INFN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Craig Hallum in a research note issued on Thursday. They currently have a $10.00 price target on the communications equipment provider’s stock, down from their previous price target of $15.00. Craig Hallum’s price objective points to a potential upside of 57.48% from the stock’s current price.
Other research analysts have also issued research reports about the company. B. Riley reiterated a “buy” rating and set a $14.00 target price on shares of Infinera Corporation in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating and set a $9.00 target price (down previously from $10.00) on shares of Infinera Corporation in a research report on Thursday. Citigroup Inc. increased their target price on Infinera Corporation from $8.50 to $10.00 and gave the company a “sell” rating in a research report on Friday, July 21st. MKM Partners reiterated a “buy” rating and set a $14.00 target price on shares of Infinera Corporation in a research report on Friday, July 21st. Finally, Zacks Investment Research lowered Infinera Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.96.
Shares of Infinera Corporation (INFN) traded down $0.01 during trading hours on Thursday, hitting $6.35. The stock had a trading volume of 4,042,700 shares, compared to its average volume of 1,910,151. Infinera Corporation has a 52-week low of $6.28 and a 52-week high of $12.50.
Infinera Corporation (NASDAQ:INFN) last announced its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.12. Infinera Corporation had a negative return on equity of 16.35% and a negative net margin of 21.59%. The firm had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s revenue was up 3.8% on a year-over-year basis. analysts expect that Infinera Corporation will post -0.85 earnings per share for the current fiscal year.
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In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $9.02, for a total value of $180,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of INFN. US Bancorp DE increased its stake in shares of Infinera Corporation by 13.7% in the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after acquiring an additional 1,186 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Infinera Corporation in the 1st quarter worth $106,000. Fred Alger Management Inc. acquired a new stake in shares of Infinera Corporation in the 2nd quarter worth $107,000. AlphaOne Investment Services LLC acquired a new stake in shares of Infinera Corporation in the 2nd quarter worth $108,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Infinera Corporation in the 2nd quarter worth $109,000. 89.35% of the stock is owned by institutional investors and hedge funds.
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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