ValuEngine upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
Other research analysts have also recently issued research reports about the stock. B. Riley cut shares of Infinera from a buy rating to a neutral rating and increased their target price for the stock from $11.00 to $13.00 in a report on Tuesday, May 8th. BidaskClub cut shares of Infinera from a hold rating to a sell rating in a report on Wednesday, July 25th. William Blair reissued a buy rating on shares of Infinera in a report on Thursday, May 10th. Northland Securities raised shares of Infinera from a market perform rating to an outperform rating and set a $12.00 target price for the company in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised shares of Infinera from a hold rating to a strong-buy rating and set a $9.50 target price for the company in a report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $10.97.
Shares of INFN stock traded up $0.10 on Wednesday, reaching $8.73. The company had a trading volume of 1,157,053 shares, compared to its average volume of 1,668,172. The stock has a market capitalization of $1.32 billion, a P/E ratio of -10.52 and a beta of 0.25. Infinera has a one year low of $6.10 and a one year high of $12.39.
Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $208.23 million during the quarter, compared to analysts’ expectations 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 business earned ($0.15) earnings per share. sell-side analysts forecast that Infinera will post -0.34 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of INFN. Millennium Management LLC bought a new position in Infinera in the 4th quarter valued at approximately $621,000. Jane Street Group LLC raised its holdings in Infinera by 2,170.9% during the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 15,196 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Infinera during the 4th quarter worth approximately $422,000. Xact Kapitalforvaltning AB bought a new position in Infinera during the 4th quarter worth approximately $130,000. Finally, Comerica Bank bought a new position in Infinera during the 1st quarter worth approximately $876,000. Institutional investors and hedge funds own 83.62% of the company’s stock.
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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