Infinera (INFN) Upgraded at ValuEngine

Infinera (NASDAQ:INFN) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.

Other analysts also recently issued reports about the company. BidaskClub downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Northland Securities upgraded Infinera from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Thursday. B. Riley increased their target price on Infinera from $10.75 to $11.00 and gave the stock a “buy” rating in a research report on Thursday. Craig Hallum reiterated a “buy” rating and set a $10.00 target price (down from $15.00) on shares of Infinera in a research report on Thursday, November 9th. Finally, Citigroup upgraded Infinera from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.27.

Shares of Infinera (INFN) traded up $2.06 during trading hours on Thursday, hitting $8.96. The stock had a trading volume of 12,249,143 shares, compared to its average volume of 1,370,000. Infinera has a twelve month low of $6.10 and a twelve month high of $12.50. The stock has a market capitalization of $1,340.00, a P/E ratio of -8.37 and a beta of 1.24.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. The business had revenue of $195.82 million for the quarter, compared to the consensus estimate of $190.26 million. During the same period in the prior year, the business earned ($0.12) earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. research analysts predict that Infinera will post -0.85 earnings per share for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon bought 100,000 shares of Infinera stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $6.33 per share, for a total transaction of $633,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Infinera by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock worth $125,746,000 after purchasing an additional 369,519 shares during the period. BlackRock Inc. raised its holdings in shares of Infinera by 2.8% in the 2nd quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after purchasing an additional 268,912 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Infinera by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,954,566 shares of the communications equipment provider’s stock worth $79,428,000 after purchasing an additional 1,161,456 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Infinera by 22.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,089,914 shares of the communications equipment provider’s stock worth $54,018,000 after purchasing an additional 1,126,763 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Infinera by 17.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,642,887 shares of the communications equipment provider’s stock worth $41,182,000 after purchasing an additional 675,584 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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