Brokerages Set Infinera Corp. (INFN) PT at $7.11

Shares of Infinera Corp. (NASDAQ:INFN) have been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $7.11.

INFN has been the subject of several recent analyst reports. MKM Partners upgraded Infinera from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, March 11th. Northland Securities restated a “buy” rating and set a $7.00 price objective on shares of Infinera in a research report on Sunday, April 21st. BidaskClub upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Zacks Investment Research downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 2nd.

In other news, CEO Thomas J. Fallon bought 50,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $3.32 per share, for a total transaction of $166,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marcel Gani bought 100,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $3.15 per share, with a total value of $315,000.00. Following the completion of the transaction, the director now directly owns 222,281 shares of the company’s stock, valued at approximately $700,185.15. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. raised its position in Infinera by 19.8% in the fourth quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 2,975 shares during the last quarter. Principal Financial Group Inc. raised its position in Infinera by 23.5% in the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 3,288 shares during the last quarter. Congress Asset Management Co. MA raised its position in shares of Infinera by 2.4% during the fourth quarter. Congress Asset Management Co. MA now owns 192,054 shares of the communications equipment provider’s stock worth $766,000 after acquiring an additional 4,570 shares during the last quarter. DDD Partners LLC bought a new position in shares of Infinera during the fourth quarter worth about $40,000. Finally, NJ State Employees Deferred Compensation Plan raised its position in shares of Infinera by 16.7% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 70,000 shares of the communications equipment provider’s stock worth $304,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.

Shares of INFN stock traded up $0.30 on Thursday, hitting $3.33. 3,299,439 shares of the company’s stock were exchanged, compared to its average volume of 2,827,323. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.55. Infinera has a 12 month low of $3.00 and a 12 month high of $10.30. The company has a market cap of $576.01 million, a P/E ratio of -5.20 and a beta of 0.62.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. Infinera had a negative return on equity of 20.02% and a negative net margin of 29.68%. The business had revenue of $295.60 million during the quarter, compared to the consensus estimate of $311.11 million. During the same period in the prior year, the company earned ($0.05) EPS. Infinera’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities research analysts anticipate that Infinera will post -0.9 earnings per share for the current fiscal year.

Infinera Company Profile

Infinera Corporation provides optical transport networking 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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Analyst Recommendations for Infinera (NASDAQ:INFN)

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