Infinera (INFN) Upgraded at BidaskClub

BidaskClub upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a report issued on Friday.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Infinera from a sell rating to a hold rating in a report on Tuesday, October 10th. MKM Partners downgraded shares of Infinera from a buy rating to a neutral rating and set a $13.00 price target for the company. in a report on Thursday, November 9th. Stifel Nicolaus restated a hold rating and set a $9.00 price target (down previously from $10.00) on shares of Infinera in a report on Thursday, November 9th. Needham & Company LLC restated a strong-buy rating and set a $13.00 price target on shares of Infinera in a report on Thursday, August 31st. Finally, Citigroup upgraded shares of Infinera from a sell rating to a neutral rating and set a $10.00 price target for the company in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Infinera has a consensus rating of Hold and a consensus price target of $10.96.

Shares of Infinera (NASDAQ INFN) opened at $6.90 on Friday. The company has a market cap of $1,020.00, a P/E ratio of -6.45 and a beta of 1.43. Infinera has a fifty-two week low of $6.27 and a fifty-two week high of $12.50.

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

In other news, President David F. Welch sold 20,000 shares of Infinera stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Fallon acquired 100,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were purchased 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 2.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its position in Infinera by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 409 shares during the last quarter. Prudential Financial Inc. increased its stake in Infinera by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after purchasing an additional 710 shares during the period. Legal & General Group Plc increased its stake in Infinera by 1.8% in the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after purchasing an additional 972 shares during the period. Amalgamated Bank increased its stake in Infinera by 5.7% in the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after purchasing an additional 992 shares during the period. Finally, US Bancorp DE increased its stake in Infinera by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 1,186 shares during the period. 90.57% of the stock is owned by institutional investors and hedge funds.

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About Infinera

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.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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