Shares of Infinera Corp. (NASDAQ:INFN) have been assigned a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.07.
Several analysts have issued reports on INFN shares. Raymond James lowered Infinera from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 24th. BidaskClub upgraded Infinera from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Drexel Hamilton set a $13.00 target price on Infinera and gave the stock a “buy” rating in a research note on Thursday, May 10th. William Blair lowered Infinera to an “outperform” rating in a research note on Wednesday, May 30th. Finally, ValuEngine lowered Infinera from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th.
Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake 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 acquiring an additional 15,196 shares during the period. Hsbc Holdings PLC bought a new position in Infinera during the 1st quarter worth $123,000. Xact Kapitalforvaltning AB bought a new position in Infinera during the 4th quarter worth $130,000. Zeke Capital Advisors LLC bought a new position in Infinera during the 1st quarter worth $134,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Infinera by 100.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after acquiring an additional 7,800 shares during the period. Hedge funds and other institutional investors own 83.62% of the company’s stock.
NASDAQ:INFN traded up $0.10 on Tuesday, hitting $8.73. The company’s stock had a trading volume of 1,157,053 shares, compared to its average volume of 1,668,172. The firm has a market capitalization of $1.32 billion, a price-to-earnings 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 released its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. equities research analysts forecast that Infinera will post -0.34 earnings per share for the current fiscal year.
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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