Infinera (INFN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report sent to investors on Wednesday, January 10th.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

Other research analysts have also issued reports about the stock. Craig Hallum reaffirmed a buy rating and issued a $10.00 price target (down from $15.00) on shares of Infinera in a research note on Thursday, November 9th. B. Riley reaffirmed a buy rating and set a $12.00 price target (down previously from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. Citigroup raised shares of Infinera from a sell rating to a neutral rating and set a $10.00 price target on the stock in a research report on Monday, October 16th. Needham & Company LLC reiterated a buy rating and issued a $13.00 target price on shares of Infinera in a report on Tuesday, September 19th. Finally, Stifel Nicolaus restated a hold rating and issued a $9.00 price target (down previously from $10.00) on shares of Infinera in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $10.96.

Shares of Infinera (NASDAQ INFN) traded down $0.19 on Wednesday, hitting $6.79. The stock had a trading volume of 1,190,400 shares, compared to its average volume of 1,237,892. Infinera has a 12-month low of $6.27 and a 12-month high of $12.50. The stock has a market cap of $1,010.00, a price-to-earnings ratio of -6.35 and a beta of 1.43.

Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.12. The firm had revenue of $192.60 million for the quarter, compared to the consensus estimate of $190.37 million. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. equities research analysts forecast that Infinera will post -0.85 earnings per share for the current year.

In other Infinera news, CEO Thomas J. Fallon acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $6.33 per share, with a total value of $633,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. grew its holdings in Infinera 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 acquiring an additional 710 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Infinera by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock worth $591,000 after buying an additional 972 shares during the last quarter. Amalgamated Bank lifted its position in shares of Infinera by 5.7% in the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after buying an additional 992 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Infinera by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 112,126 shares of the communications equipment provider’s stock worth $1,196,000 after buying an additional 2,781 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Infinera by 23.1% in the 2nd quarter. D.A. Davidson & CO. now owns 20,013 shares of the communications equipment provider’s stock worth $213,000 after buying an additional 3,757 shares during the last quarter. 90.57% of the stock is owned by institutional investors and hedge funds.

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Infinera 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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