Infinera (INFN) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Infinera (NASDAQ:INFN) from a hold rating to a sell rating in a research note published on Saturday morning.

INFN has been the topic of several other reports. Zacks Investment Research downgraded shares of Infinera from a hold rating to a sell rating in a report on Thursday, October 18th. Morgan Stanley began coverage on shares of Infinera in a report on Tuesday, September 25th. They issued an overweight rating and a $9.50 price objective on the stock. Stifel Nicolaus began coverage on shares of Infinera in a report on Monday, October 22nd. They issued a hold rating and a $8.00 price objective on the stock. Piper Jaffray Companies dropped their price objective on shares of Infinera to $6.50 and set a neutral rating on the stock in a report on Wednesday, November 7th. Finally, B. Riley dropped their price objective on shares of Infinera from $6.50 to $5.50 and set a neutral rating on the stock in a report on Monday, November 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $9.13.

INFN stock opened at $4.41 on Friday. The firm has a market capitalization of $754.19 million, a PE ratio of -5.31 and a beta of 0.52. The company has a current ratio of 3.92, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. Infinera has a 12 month low of $4.11 and a 12 month high of $12.39.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.41 million for the quarter, compared to the consensus estimate of $210.57 million. Infinera had a negative net margin of 19.18% and a negative return on equity of 11.58%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. On average, research analysts expect that Infinera will post -0.69 EPS for the current fiscal year.

In other news, CFO Brad Feller purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were purchased at an average cost of $4.50 per share, with a total value of $180,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David W. Heard purchased 20,000 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were purchased at an average cost of $4.74 per share, for a total transaction of $94,800.00. Following the completion of the acquisition, the chief operating officer now directly owns 44,532 shares of the company’s stock, valued at approximately $211,081.68. The disclosure for this purchase can be found here. Insiders have purchased 150,000 shares of company stock worth $675,900 over the last three months. 3.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co purchased a new stake in Infinera during the third quarter worth $103,000. Verition Fund Management LLC purchased a new stake in Infinera during the third quarter worth $104,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Infinera by 100.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after buying an additional 7,800 shares in the last quarter. Cpwm LLC purchased a new stake in Infinera during the third quarter worth $155,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Infinera during the third quarter worth $165,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

About Infinera

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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