BidaskClub downgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a strong sell rating in a report released on Friday.
A number of other research analysts also recently issued reports on INFN. Jefferies Financial Group downgraded Infinera from a hold rating to an underperform rating and dropped their price objective for the company from $12.39 to $6.10 in a research note on Tuesday, May 29th. ValuEngine downgraded Infinera from a hold rating to a sell rating in a research note on Tuesday, May 29th. William Blair downgraded Infinera to an outperform rating in a research note on Wednesday, May 30th. Goldman Sachs Group downgraded Infinera from a buy rating to a neutral rating and set a $10.00 price objective on the stock. in a research note on Wednesday, June 20th. Finally, Raymond James downgraded Infinera from a market perform rating to an underperform rating in a research note on Tuesday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $10.97.
Shares of NASDAQ:INFN opened at $7.03 on Friday. The stock has a market capitalization of $1.10 billion, a PE ratio of -8.57 and a beta of 0.14. Infinera has a 1 year low of $6.10 and a 1 year high of $12.39.
Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $208.23 million for the quarter, compared to the consensus estimate of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same period in the previous year, the business earned ($0.15) EPS. sell-side analysts predict that Infinera will post -0.38 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of INFN. Comerica Bank bought a new stake in Infinera in the 1st quarter valued at about $876,000. SG Americas Securities LLC increased its position in Infinera by 159.5% in the 1st quarter. SG Americas Securities LLC now owns 111,385 shares of the communications equipment provider’s stock valued at $1,210,000 after buying an additional 68,468 shares in the last quarter. Trexquant Investment LP increased its holdings in Infinera by 188.0% during the 1st quarter. Trexquant Investment LP now owns 45,539 shares of the communications equipment provider’s stock worth $495,000 after purchasing an additional 29,726 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Infinera by 0.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,324,856 shares of the communications equipment provider’s stock worth $25,248,000 after purchasing an additional 13,182 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Infinera by 4.6% during the 1st quarter. Swiss National Bank now owns 258,400 shares of the communications equipment provider’s stock worth $2,806,000 after purchasing an additional 11,400 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
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.
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