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 Tuesday morning.
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. “
INFN has been the topic of a number of other research reports. BidaskClub downgraded shares of Infinera from a sell rating to a strong sell rating in a research note on Tuesday, January 30th. William Blair reiterated a buy rating on shares of Infinera in a research report on Thursday, November 9th. Craig Hallum reiterated a buy rating and set a $10.00 price objective (down previously from $15.00) on shares of Infinera in a research report on Thursday, November 9th. ValuEngine cut shares of Infinera from a hold rating to a sell rating in a research report on Thursday, November 2nd. Finally, MKM Partners cut shares of Infinera from a buy rating to a neutral rating and set a $13.00 price objective on the stock. in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $11.27.
Infinera (INFN) traded up $0.04 during mid-day trading on Tuesday, hitting $9.60. 1,549,400 shares of the stock traded hands, compared to its average volume of 1,944,708. Infinera has a 1 year low of $6.10 and a 1 year high of $12.38.
Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The firm had revenue of $195.82 million for the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. research analysts expect that Infinera will post -0.43 EPS for the current fiscal year.
In related news, insider David F. Welch sold 80,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $9.14, for a total value of $731,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Welch sold 60,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $9.07, for a total transaction of $544,200.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in Infinera by 2,170.9% in the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after buying an additional 15,196 shares during the period. Amalgamated Bank grew its stake in Infinera by 5.7% in the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after acquiring an additional 992 shares during the period. Aperio Group LLC grew its stake in Infinera by 87.6% in the 3rd quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock valued at $168,000 after acquiring an additional 8,847 shares during the period. Virtu Financial LLC acquired a new stake in Infinera in the 4th quarter valued at $155,000. Finally, MANA Advisors LLC acquired a new stake in Infinera in the 4th quarter valued at $161,000. 88.49% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/02/16/infinera-infn-upgraded-at-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on Infinera (INFN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.