Infinera Corp. (INFN) Receives Consensus Rating of “Hold” from Analysts
Infinera Corp. (NASDAQ:INFN) has received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $10.67.
INFN has been the topic of a number of research analyst reports. MKM Partners reduced their price target on shares of Infinera Corp. from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, June 20th. Citigroup Inc. reissued a “hold” rating on shares of Infinera Corp. in a research note on Tuesday, June 21st. Nomura reissued a “buy” rating and issued a $17.00 price target on shares of Infinera Corp. in a research note on Thursday, June 23rd. B. Riley began coverage on shares of Infinera Corp. in a research note on Thursday, July 14th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC upgraded shares of Infinera Corp. from a “buy” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Monday, July 25th.
In other news, CEO Thomas J. Fallon purchased 100,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $8.54 per share, with a total value of $854,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brad Feller purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost of $8.60 per share, for a total transaction of $172,000.00. Following the completion of the purchase, the chief financial officer now directly owns 109,586 shares in the company, valued at $942,439.60. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in INFN. BlackRock Inc. boosted its stake in Infinera Corp. by 124.4% in the first quarter. BlackRock Inc. now owns 8,956 shares of the company’s stock valued at $144,000 after buying an additional 4,965 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Infinera Corp. during the second quarter valued at about $115,000. Capstone Investment Advisors LLC purchased a new stake in Infinera Corp. during the second quarter valued at about $121,000. Ameritas Investment Partners Inc. boosted its stake in Infinera Corp. by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,951 shares of the company’s stock valued at $124,000 after buying an additional 577 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in Infinera Corp. during the second quarter valued at about $127,000. 69.80% of the stock is currently owned by institutional investors.
Shares of Infinera Corp. (NASDAQ:INFN) traded down 1.069% during midday trading on Thursday, reaching $8.795. 920,887 shares of the company’s stock traded hands. Infinera Corp. has a 1-year low of $8.20 and a 1-year high of $22.85. The stock has a market capitalization of $1.26 billion, a P/E ratio of 29.123 and a beta of 1.11. The firm’s 50-day moving average price is $8.83 and its 200 day moving average price is $11.37.
Infinera Corp. (NASDAQ:INFN) last released its quarterly 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 net margin of 4.48% and a return on equity of 11.38%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities analysts predict that Infinera Corp. will post $0.42 earnings per share for the current fiscal year.
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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