Infinera Corp. (INFN) Now Covered by Analysts at Stifel Nicolaus
Other analysts also recently issued research reports about the company. Nomura initiated coverage on Infinera Corp. in a research report on Friday, June 3rd. They issued a buy rating and a $17.00 target price on the stock. B. Riley initiated coverage on Infinera Corp. in a research report on Tuesday, July 19th. They issued a buy rating and a $18.00 target price on the stock. Deutsche Bank AG lowered their target price on Infinera Corp. from $23.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, July 28th. Citigroup Inc. reaffirmed a hold rating on shares of Infinera Corp. in a research report on Tuesday, June 21st. Finally, Jefferies Group downgraded Infinera Corp. from a buy rating to a hold rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Infinera Corp. presently has an average rating of Hold and an average target price of $14.36.
Infinera Corp. (NASDAQ:INFN) traded down 0.44% during mid-day trading on Friday, reaching $8.99. The company’s stock had a trading volume of 256,823 shares. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 29.77 and a beta of 1.11. The firm has a 50-day moving average of $8.80 and a 200 day moving average of $11.76. Infinera Corp. has a 1-year low of $8.20 and a 1-year high of $22.85.
Infinera Corp. (NASDAQ:INFN) last released its earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $258.82 million for 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%. Infinera Corp.’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. Equities analysts expect that Infinera Corp. will post $0.42 earnings per share for the current year.
In related news, Director Marcel Gani acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average cost of $8.60 per share, for a total transaction of $430,000.00. Following the completion of the acquisition, the director now directly owns 87,547 shares of the company’s stock, valued at approximately $752,904.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Daane acquired 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was bought 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 directly owns 12,000 shares of the company’s stock, valued at $101,880. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA increased its stake in Infinera Corp. by 37.9% in the first quarter. Granahan Investment Management Inc. MA now owns 154,500 shares of the company’s stock worth $2,481,000 after buying an additional 42,500 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Infinera Corp. during the first quarter worth $1,511,000. Friess Associates LLC acquired a new stake in shares of Infinera Corp. during the first quarter worth $10,765,000. Wellington Management Group LLP increased its stake in shares of Infinera Corp. by 1,396.8% in the first quarter. Wellington Management Group LLP now owns 504,427 shares of the company’s stock worth $8,101,000 after buying an additional 470,727 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Infinera Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 939,233 shares of the company’s stock worth $15,084,000 after buying an additional 38,891 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.
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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