Infinera Corp. (NASDAQ:INFN) has earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.67.
INFN has been the subject of a number of research analyst reports. Deutsche Bank AG decreased their price target on Infinera Corp. from $23.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Needham & Company LLC decreased their price target on Infinera Corp. from $20.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 28th. MKM Partners decreased their price target on Infinera Corp. from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, September 6th. B. Riley initiated coverage on Infinera Corp. in a research note on Tuesday, July 19th. They set a “buy” rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. lowered Infinera Corp. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $8.50 in a research note on Thursday, July 28th.
Infinera Corp. (NASDAQ:INFN) opened at 8.62 on Thursday. Infinera Corp. has a one year low of $8.20 and a one year high of $22.85. The stock’s 50 day moving average price is $8.84 and its 200-day moving average price is $11.19. The company has a market capitalization of $1.23 billion, a P/E ratio of 28.54 and a beta of 1.11.
Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. Infinera Corp. had a return on equity of 11.38% and a net margin of 4.48%. The firm earned $258.82 million during the quarter, compared to analyst estimates of $255.83 million. During the same period last year, the company earned $0.18 EPS. Infinera Corp.’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that Infinera Corp. will post $0.42 EPS for the current year.
In other Infinera Corp. news, Director John Daane purchased 12,000 shares of the stock in a transaction on Monday, August 1st. The stock was acquired at an average price of $8.49 per share, with a total value of $101,880.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at $101,880. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brad Feller purchased 20,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average cost of $8.60 per share, with a total value of $172,000.00. Following the acquisition, the chief financial officer now owns 109,586 shares of the company’s stock, valued at approximately $942,439.60. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Parametrica Management Ltd acquired a new stake in shares of Infinera Corp. during the third quarter valued at $121,000. Eagle Boston Investment Management Inc. acquired a new stake in shares of Infinera Corp. during the third quarter valued at $2,094,000. Eagle Asset Management Inc. increased its stake in shares of Infinera Corp. by 45.6% in the third quarter. Eagle Asset Management Inc. now owns 2,844,945 shares of the company’s stock valued at $25,689,000 after buying an additional 891,570 shares in the last quarter. Creative Planning increased its stake in shares of Infinera Corp. by 3.1% in the third quarter. Creative Planning now owns 27,325 shares of the company’s stock valued at $247,000 after buying an additional 829 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in shares of Infinera Corp. by 126.8% in the third quarter. First Mercantile Trust Co. now owns 16,260 shares of the company’s stock valued at $147,000 after buying an additional 9,090 shares in the last quarter. 68.95% of the stock is owned by institutional investors and hedge funds.
Infinera Corp. Company Profile
Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.
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