Infinera (NASDAQ:INFN) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Several other brokerages have also commented on INFN. Rosenblatt Securities reiterated a “buy” rating and set a $13.00 price target on shares of Infinera in a research note on Monday, April 16th. BidaskClub upgraded shares of Infinera from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Drexel Hamilton set a $13.00 price target on shares of Infinera and gave the stock a “buy” rating in a research note on Thursday, May 10th. William Blair lowered shares of Infinera to an “outperform” rating in a research note on Wednesday, May 30th. Finally, Needham & Company LLC lifted their price target on shares of Infinera from $12.00 to $14.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.35.
Shares of NASDAQ:INFN opened at $9.77 on Monday. Infinera has a 12 month low of $6.10 and a 12 month high of $12.39. The firm has a market cap of $1.50 billion, a P/E ratio of -11.77 and a beta of 0.34.
Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, May 9th. The communications equipment provider reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. Infinera had a negative net margin of 23.48% and a negative return on equity of 15.84%. The firm had revenue of $202.70 million for the quarter, compared to analyst estimates of $200.81 million. During the same period last year, the business earned ($0.15) EPS. Infinera’s revenue for the quarter was up 15.5% compared to the same quarter last year. analysts predict that Infinera will post -0.33 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Infinera by 1,721.2% in the first quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock valued at $2,029,000 after acquiring an additional 176,576 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock valued at $753,000 after acquiring an additional 12,098 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Infinera by 1,021.4% in the first quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock valued at $11,945,000 after acquiring an additional 1,001,790 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Infinera in the first quarter valued at about $328,000. Finally, A.R.T. Advisors LLC boosted its holdings in shares of Infinera by 137.0% in the first quarter. A.R.T. Advisors LLC now owns 218,163 shares of the communications equipment provider’s stock valued at $2,369,000 after acquiring an additional 126,100 shares in the last quarter. 83.62% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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