Infinera Corp. (INFN) Receives $10.22 Average Price Target from Analysts
Shares of Infinera Corp. (NASDAQ:INFN) have been given an average rating of “Hold” by the sixteen ratings firms that are covering the company. One equities research 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 company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.22.
A number of equities analysts have recently commented on INFN shares. William Blair reaffirmed a “buy” rating on shares of Infinera Corp. in a report on Tuesday, October 25th. Zacks Investment Research lowered Infinera Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. MKM Partners cut their price target on Infinera Corp. from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, September 6th. Stifel Nicolaus started coverage on Infinera Corp. in a report on Friday, September 30th. They issued a “hold” rating and a $9.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $15.00 price target on shares of Infinera Corp. in a report on Tuesday, August 23rd.
Several hedge funds and other institutional investors have recently made changes to their positions in INFN. Vanguard Group Inc. boosted its position in shares of Infinera Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 10,197,594 shares of the company’s stock worth $115,028,000 after buying an additional 182,205 shares during the period. Alliancebernstein L.P. boosted its position in shares of Infinera Corp. by 1,680.3% in the second quarter. Alliancebernstein L.P. now owns 4,176,127 shares of the company’s stock worth $47,107,000 after buying an additional 3,941,556 shares during the period. BlackRock Fund Advisors boosted its position in shares of Infinera Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 3,982,671 shares of the company’s stock worth $44,925,000 after buying an additional 212,809 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Infinera Corp. by 6.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,731,990 shares of the company’s stock worth $33,700,000 after buying an additional 239,946 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Infinera Corp. by 50.7% in the third quarter. Neuberger Berman Group LLC now owns 3,334,750 shares of the company’s stock worth $30,113,000 after buying an additional 1,121,631 shares during the period. 69.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Infinera Corp. (NASDAQ:INFN) opened at 8.37 on Thursday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 48.95 and a beta of 1.49. Infinera Corp. has a 12 month low of $7.23 and a 12 month high of $22.85. The company’s 50-day moving average price is $8.53 and its 200-day moving average price is $10.11.
Infinera Corp. (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.05 earnings per share for the quarter, beating the 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 earned $185.45 million during the quarter, compared to analyst estimates of $185.50 million. During the same period in the prior year, the company earned $0.22 earnings per share. Infinera Corp.’s revenue was down 20.2% compared to the same quarter last year. Analysts anticipate that Infinera Corp. will post $0.33 EPS for the current year.
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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