Infinera Corp. (NASDAQ:INFN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

Several other analysts also recently issued reports on the company. B. Riley restated a “neutral” rating and issued a $9.00 price objective on shares of Infinera Corp. in a research report on Tuesday, November 1st. Needham & Company LLC dropped their target price on Infinera Corp. from $15.00 to $12.50 and set a “strong-buy” rating for the company in a research note on Thursday, October 27th. William Blair reiterated a “buy” rating on shares of Infinera Corp. in a research note on Tuesday, October 25th. Stifel Nicolaus began coverage on Infinera Corp. in a research note on Friday, September 30th. They issued a “hold” rating and a $9.00 target price for the company. Finally, MKM Partners dropped their target price 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.54.

Analyst Recommendations for Infinera Corp. (NASDAQ:INFN)

Infinera Corp. (NASDAQ:INFN) opened at 8.59 on Friday. Infinera Corp. has a 52 week low of $7.23 and a 52 week high of $22.85. The stock has a market cap of $1.24 billion, a PE ratio of 50.23 and a beta of 1.49. The stock has a 50 day moving average price of $8.60 and a 200 day moving average price of $10.23.

Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. Infinera Corp. had a return on equity of 7.91% and a net margin of 2.63%. The business had revenue of $185.45 million for the quarter, compared to the consensus estimate of $185.50 million. During the same period in the prior year, the business earned $0.22 earnings per share. The business’s revenue was down 20.2% on a year-over-year basis. On average, equities analysts predict that Infinera Corp. will post $0.33 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Infinera Corp. by 1.3% in the third quarter. Principal Financial Group Inc. now owns 19,032 shares of the company’s stock worth $172,000 after buying an additional 242 shares in the last quarter. Pitcairn Co. increased its position in shares of Infinera Corp. by 2.8% in the second quarter. Pitcairn Co. now owns 11,695 shares of the company’s stock worth $132,000 after buying an additional 321 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Infinera Corp. by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,951 shares of the company’s stock worth $124,000 after buying an additional 577 shares in the last quarter. Creative Planning increased its position in shares of Infinera Corp. by 3.1% in the third quarter. Creative Planning now owns 27,325 shares of the company’s stock worth $247,000 after buying an additional 829 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Infinera Corp. by 7.0% in the second quarter. Amalgamated Bank now owns 14,996 shares of the company’s stock worth $136,000 after buying an additional 976 shares in the last quarter. 68.20% of the stock is owned by hedge funds and other institutional investors.

About Infinera Corp.

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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