Needham & Company LLC Increases Infinera (INFN) Price Target to $14.00

Infinera (NASDAQ:INFN) had its price objective boosted by Needham & Company LLC from $12.00 to $14.00 in a research note issued to investors on Thursday, Marketbeat.com reports. Needham & Company LLC currently has a strong-buy rating on the communications equipment provider’s stock.

INFN has been the topic of several other reports. ValuEngine upgraded shares of Infinera from a sell rating to a hold rating in a research report on Thursday, February 8th. Rosenblatt Securities restated a buy rating and set a $13.00 price target on shares of Infinera in a report on Monday, April 16th. BidaskClub upgraded shares of Infinera from a strong sell rating to a sell rating in a report on Wednesday, February 7th. William Blair restated an outperform rating on shares of Infinera in a report on Tuesday, February 6th. Finally, B. Riley raised their price target on shares of Infinera from $10.75 to $11.00 and gave the stock a buy rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Infinera presently has an average rating of Buy and an average price target of $11.90.

NASDAQ:INFN opened at $10.16 on Thursday. Infinera has a one year low of $6.10 and a one year high of $12.39. The company has a market cap of $1.78 billion, a P/E ratio of -12.24 and a beta of 0.49.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, May 9th. The communications equipment provider reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Infinera had a negative net margin of 23.48% and a negative return on equity of 15.62%. The business had revenue of $202.70 million for the quarter, compared to the consensus estimate of $200.81 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. analysts predict that Infinera will post -0.43 earnings per share for the current year.

In other news, insider David F. Welch sold 80,000 shares of Infinera stock in a transaction on 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 at this link. Also, insider David F. Welch sold 149,093 shares of Infinera stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total transaction of $1,495,402.79. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Infinera in the 1st quarter valued at $123,000. Zeke Capital Advisors LLC bought a new stake in shares of Infinera in the 1st quarter valued at $134,000. Jane Street Group LLC increased its stake in shares of 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 valued at $101,000 after acquiring an additional 15,196 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Infinera in the 4th quarter valued at $130,000. Finally, Virtu Financial LLC bought a new stake in shares of Infinera in the 4th quarter valued at $155,000. Institutional investors own 87.50% of the company’s stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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