Infinera Corporation (NASDAQ:INFN) had its price target decreased by Citigroup Inc. from $9.00 to $8.50 in a research note released on Friday. Citigroup Inc. currently has a neutral rating on the communications equipment provider’s stock.

A number of other brokerages also recently commented on INFN. MKM Partners reaffirmed a buy rating and issued a $14.00 price objective on shares of Infinera Corporation in a research report on Friday, July 21st. Stifel Nicolaus reaffirmed a hold rating and issued a $10.00 price objective on shares of Infinera Corporation in a research report on Friday, July 21st. B. Riley reaffirmed a buy rating and issued a $14.00 price objective on shares of Infinera Corporation in a research report on Friday, August 4th. Deutsche Bank AG reaffirmed a buy rating and issued a $12.50 price objective (up previously from $12.00) on shares of Infinera Corporation in a research report on Monday, July 17th. Finally, Craig Hallum initiated coverage on Infinera Corporation in a research report on Tuesday, July 18th. They issued a buy rating and a $15.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Infinera Corporation presently has an average rating of Hold and a consensus price target of $10.96.

Infinera Corporation (NASDAQ:INFN) traded down $0.01 during trading on Friday, reaching $6.35. The company’s stock had a trading volume of 4,042,700 shares, compared to its average volume of 1,910,151. Infinera Corporation has a one year low of $6.28 and a one year high of $12.50.

Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.12. The company had revenue of $192.60 million during the quarter, compared to the consensus estimate of $190.37 million. Infinera Corporation had a negative return on equity of 16.35% and a negative net margin of 21.59%. Infinera Corporation’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. sell-side analysts forecast that Infinera Corporation will post -0.85 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/13/citigroup-inc-cuts-infinera-corporation-infn-price-target-to-8-50.html.

In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total transaction of $180,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas J. Fallon acquired 100,000 shares of Infinera Corporation stock in a transaction on Monday, November 13th. The shares were bought at an average price of $6.33 per share, for a total transaction of $633,000.00. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas lifted its stake in shares of Infinera Corporation by 3.6% during the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 409 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Infinera Corporation by 4.9% during the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 710 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Infinera Corporation by 1.8% during the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock worth $591,000 after purchasing an additional 972 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Infinera Corporation by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors own 90.15% 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)

Receive News & Stock Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related stocks with our FREE daily email newsletter.