Infinera Corporation (NASDAQ:INFN) was upgraded by investment analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a research report issued on Monday. The brokerage presently has a $10.00 target price on the communications equipment provider’s stock. Citigroup Inc.’s price target suggests a potential upside of 18.21% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Infinera Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. B. Riley upgraded Infinera Corporation to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, June 27th. MKM Partners reiterated a “buy” rating and issued a $14.00 price target on shares of Infinera Corporation in a report on Friday, July 21st. Zacks Investment Research downgraded Infinera Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Infinera Corporation in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.82.

Infinera Corporation (NASDAQ:INFN) opened at 8.46 on Monday. The stock’s 50 day moving average is $8.56 and its 200-day moving average is $9.84. The stock’s market capitalization is $1.25 billion. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The firm had revenue of $176.28 million during the quarter, compared to the consensus estimate of $181.16 million. During the same quarter last year, the firm posted $0.21 earnings per share. Infinera Corporation’s revenue was down 31.9% compared to the same quarter last year. On average, equities research analysts expect that Infinera Corporation will post ($0.56) earnings per share for the current year.

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In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $9.29, for a total transaction of $185,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its position in Infinera Corporation by 13.7% during the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after acquiring an additional 1,186 shares during the period. Fred Alger Management Inc. acquired a new position in Infinera Corporation during the 2nd quarter worth $107,000. AlphaOne Investment Services LLC acquired a new position in Infinera Corporation during the 2nd quarter worth $108,000. Summit Securities Group LLC acquired a new position in Infinera Corporation during the 2nd quarter worth $109,000. Finally, Karp Capital Management Corp acquired a new position in Infinera Corporation during the 1st quarter worth $106,000. Institutional investors own 86.67% of the company’s stock.

Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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