Infinera (INFN) Stock Price Up 0%

Infinera Corp. (NASDAQ:INFN)’s share price rose 0% during trading on Thursday . The stock traded as high as $7.10 and last traded at $7.08. Approximately 1,860,000 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 1,410,000 shares. The stock had previously closed at $7.08.

INFN has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Infinera in a research report on Tuesday, September 19th. Zacks Investment Research downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Citigroup upgraded Infinera from a “sell” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research report on Monday, October 16th. ValuEngine downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, B. Riley restated a “buy” rating and issued a $12.00 price objective (down from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Infinera currently has a consensus rating of “Hold” and an average target price of $10.96.

The company has a market capitalization of $1,060.00, a PE ratio of -6.62 and a beta of 1.43.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.12. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. The company had revenue of $192.60 million for the quarter, compared to the consensus estimate of $190.37 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. analysts anticipate that Infinera Corp. will post -0.85 earnings per share for the current year.

In related news, CEO Thomas J. Fallon acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $6.33 per share, for a total transaction of $633,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC raised its position in Infinera by 10.2% during the third quarter. Neuberger Berman Group LLC now owns 4,491,345 shares of the communications equipment provider’s stock valued at $39,838,000 after purchasing an additional 416,885 shares during the period. Cubist Systematic Strategies LLC raised its position in Infinera by 66.9% during the third quarter. Cubist Systematic Strategies LLC now owns 65,395 shares of the communications equipment provider’s stock valued at $580,000 after purchasing an additional 26,216 shares during the period. Granahan Investment Management Inc. MA raised its position in Infinera by 3.1% during the third quarter. Granahan Investment Management Inc. MA now owns 259,835 shares of the communications equipment provider’s stock valued at $2,305,000 after purchasing an additional 7,758 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Infinera during the third quarter valued at approximately $20,143,000. Finally, Elk Creek Partners LLC raised its position in Infinera by 10.9% during the third quarter. Elk Creek Partners LLC now owns 1,834,820 shares of the communications equipment provider’s stock valued at $16,275,000 after purchasing an additional 180,463 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/12/infinera-infn-stock-price-up-0.html.

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.

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply