William Blair reiterated their buy rating on shares of Infinera Corporation (NASDAQ:INFN) in a research report sent to investors on Thursday morning.
A number of other analysts have also weighed in on INFN. B. Riley restated a buy rating and issued a $14.00 target price on shares of Infinera Corporation in a research report on Friday, August 4th. BidaskClub lowered shares of Infinera Corporation from a sell rating to a strong sell rating in a research report on Wednesday, August 9th. MKM Partners lowered shares of Infinera Corporation from a buy rating to a neutral rating and set a $13.00 target price on the stock. in a research report on Thursday. Nomura cut their target price on shares of Infinera Corporation from $13.00 to $11.00 and set a buy rating on the stock in a research report on Thursday. Finally, Craig Hallum restated a buy rating and issued a $10.00 target price (down previously from $15.00) on shares of Infinera Corporation in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Infinera Corporation presently has a consensus rating of Hold and a consensus target price of $10.96.
Shares of Infinera Corporation (INFN) traded down $0.01 during trading on Thursday, reaching $6.35. 4,042,700 shares of the company’s stock were exchanged, compared to its average volume of 1,910,151. Infinera Corporation has a 1 year low of $6.28 and a 1 year high of $12.50.
Infinera Corporation (NASDAQ:INFN) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.12. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.35%. 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 business posted ($0.15) earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. equities research analysts expect that Infinera Corporation will post -0.85 EPS for the current fiscal year.
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In related news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in INFN. US Bancorp DE raised its stake in Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares during the last quarter. Karp Capital Management Corp bought a new position in Infinera Corporation during the first quarter worth $106,000. Fred Alger Management Inc. bought a new position in Infinera Corporation during the second quarter worth $107,000. AlphaOne Investment Services LLC bought a new position in Infinera Corporation during the second quarter worth $108,000. Finally, Summit Securities Group LLC bought a new position in Infinera Corporation during the second 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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