Infinera Corporation (NASDAQ:INFN) has been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.96.
Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Infinera from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, November 10th. William Blair reiterated a “buy” rating on shares of Infinera in a report on Thursday, November 9th. Nomura dropped their price objective on shares of Infinera from $13.00 to $11.00 and set a “buy” rating on the stock in a 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 report on Thursday, November 9th. Finally, MKM Partners lowered shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, November 9th.
In other news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $6.33 per share, with a total value of $633,000.00. The disclosure for this purchase can be found here. Insiders own 3.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. US Bancorp DE grew its position in Infinera by 13.7% in the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 1,186 shares in the last quarter. Fred Alger Management Inc. bought a new stake in Infinera in the 2nd quarter worth about $107,000. AlphaOne Investment Services LLC bought a new stake in Infinera in the 2nd quarter worth about $108,000. Summit Securities Group LLC bought a new stake in Infinera in the 2nd quarter worth about $109,000. Finally, Teacher Retirement System of Texas grew its position in Infinera by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 409 shares in the last quarter. 90.72% of the stock is owned by institutional investors and hedge funds.
Infinera (NASDAQ INFN) opened at $6.70 on Thursday. Infinera has a fifty-two week low of $6.27 and a fifty-two week high of $12.50.
Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.12. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. The firm had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. sell-side analysts forecast that Infinera will post -0.85 earnings per share for the current year.
Infinera Company Profile
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.
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