Infinera Corporation (NASDAQ:INFN) had its target price cut by Nomura from $13.00 to $11.00 in a research report sent to investors on Thursday morning. They currently have a buy rating on the communications equipment provider’s stock.
INFN has been the topic of a number of other research reports. Zacks Investment Research upgraded Infinera Corporation from a sell rating to a hold rating in a research note on Wednesday, November 1st. Deutsche Bank AG lowered their target price on Infinera Corporation from $12.50 to $12.00 and set a buy rating on the stock in a research note on Monday, August 7th. Craig Hallum started coverage on Infinera Corporation in a research note on Tuesday, July 18th. They issued a buy rating and a $15.00 target price on the stock. Needham & Company LLC restated a strong-buy rating and issued a $13.00 target price on shares of Infinera Corporation in a research note on Thursday, August 31st. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $10.00 price target on shares of Infinera Corporation in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Infinera Corporation has a consensus rating of Hold and a consensus price target of $10.96.
Shares of Infinera Corporation (INFN) traded down $0.01 during midday trading on Thursday, reaching $6.35. The company’s stock had a trading volume of 4,042,700 shares, 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) 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 the consensus estimate of $190.37 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. equities research analysts forecast 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 the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its position in shares of Infinera Corporation by 3.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 409 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Infinera Corporation by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 710 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Infinera Corporation by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock worth $591,000 after purchasing an additional 972 shares during the last quarter. Amalgamated Bank lifted its position in shares of Infinera Corporation by 5.7% during the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Infinera Corporation by 13.7% during the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 1,186 shares during the last quarter. 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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