Other equities analysts also recently issued research reports about the company. B. Riley began coverage on Infinera Corp. in a report on Tuesday, July 19th. They set a buy rating and a $18.00 target price for the company. Jefferies Group downgraded Infinera Corp. from a buy rating to a hold rating in a report on Thursday, July 28th. Citigroup Inc. downgraded Infinera Corp. to a market perform rating and decreased their target price for the company from $13.00 to $10.00 in a report on Thursday, July 28th. Raymond James Financial Inc. downgraded Infinera Corp. from an outperform rating to a market perform rating in a report on Thursday, July 28th. Finally, Needham & Company LLC decreased their target price on Infinera Corp. from $20.00 to $15.00 and set a strong-buy rating for the company in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $14.36.
Shares of Infinera Corp. (NASDAQ:INFN) opened at 9.08 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of 30.07 and a beta of 1.11. The stock’s 50 day moving average price is $8.79 and its 200-day moving average price is $11.59. Infinera Corp. has a 1-year low of $8.20 and a 1-year high of $22.85.
Infinera Corp. (NASDAQ:INFN) last announced its earnings results on Wednesday, July 27th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company earned $258.82 million during the quarter, compared to the consensus estimate of $255.83 million. Infinera Corp. had a return on equity of 11.38% and a net margin of 4.48%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities analysts predict that Infinera Corp. will post $0.42 EPS for the current year.
In other Infinera Corp. news, Director John Daane acquired 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average cost of $8.49 per share, with a total value of $101,880.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $101,880. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Fallon acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $8.54 per share, for a total transaction of $854,000.00. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in Infinera Corp. by 68.2% in the second quarter. Macquarie Group Ltd. now owns 1,237,303 shares of the company’s stock valued at $13,957,000 after buying an additional 501,822 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Infinera Corp. by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 475,678 shares of the company’s stock valued at $5,366,000 after buying an additional 20,910 shares during the period. Stifel Financial Corp boosted its stake in Infinera Corp. by 4.9% in the second quarter. Stifel Financial Corp now owns 58,998 shares of the company’s stock valued at $667,000 after buying an additional 2,759 shares during the period. Amalgamated Bank boosted its stake in Infinera Corp. by 7.0% in the second quarter. Amalgamated Bank now owns 14,996 shares of the company’s stock valued at $136,000 after buying an additional 976 shares during the period. Finally, Fiera Capital Corp acquired a new stake in Infinera Corp. during the second quarter valued at approximately $29,645,000. 69.80% of the stock is currently owned by institutional investors.
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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