Infinera Corp. (INFN) Receives $10.73 Consensus Price Target from Brokerages

Infinera Corp. (NASDAQ:INFN) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.73.

Several research analysts recently commented on INFN shares. Raymond James downgraded shares of Infinera from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 24th. ValuEngine raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Morgan Stanley set a $10.00 price target on shares of Infinera and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, MKM Partners downgraded shares of Infinera from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $10.00 to $5.50 in a research note on Monday, October 1st.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Infinera by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock worth $137,084,000 after acquiring an additional 1,265,072 shares in the last quarter. BlackRock Inc. grew its holdings in Infinera by 12.5% during the 2nd quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock worth $108,849,000 after acquiring an additional 1,222,230 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Infinera by 0.6% during the 2nd quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock worth $59,247,000 after acquiring an additional 37,172 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Infinera by 5.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,448,025 shares of the communications equipment provider’s stock worth $24,309,000 after acquiring an additional 123,169 shares in the last quarter. Finally, Divisar Capital Management LLC grew its holdings in Infinera by 3.5% during the 2nd quarter. Divisar Capital Management LLC now owns 1,965,427 shares of the communications equipment provider’s stock worth $19,517,000 after acquiring an additional 66,173 shares in the last quarter. Institutional investors own 82.94% of the company’s stock.

Shares of INFN traded up $0.18 during midday trading on Friday, hitting $6.06. The stock had a trading volume of 87,811 shares, compared to its average volume of 2,645,308. Infinera has a 1 year low of $5.24 and a 1 year high of $12.39. The company has a market cap of $829.21 million, a P/E ratio of -7.22 and a beta of 0.07.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $208.23 million for the quarter, compared to the consensus estimate of $208.96 million. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts forecast that Infinera will post -0.56 EPS for the current year.

About Infinera

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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Analyst Recommendations for Infinera (NASDAQ:INFN)

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