Infinera Corp. (INFN) Receives Average Rating of “Hold” from Analysts

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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.

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.

See Also: Fundamental Analysis

Analyst Recommendations for Infinera (NASDAQ:INFN)

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