Stifel Nicolaus reaffirmed their hold rating on shares of Infinera Corporation (NASDAQ:INFN) in a research report sent to investors on Friday, July 21st. They currently have a $10.00 target price on the communications equipment provider’s stock.
Several other research analysts also recently commented on INFN. B. Riley reissued a neutral rating and set a $9.50 price target on shares of Infinera Corporation in a research note on Friday, May 5th. BidaskClub upgraded shares of Infinera Corporation from a strong sell rating to a sell rating in a report on Wednesday, July 12th. MKM Partners upgraded shares of Infinera Corporation from a neutral rating to a buy rating and raised their target price for the stock from $10.00 to $14.00 in a report on Wednesday, June 14th. Needham & Company LLC raised their target price on shares of Infinera Corporation from $13.50 to $14.50 and gave the stock a strong-buy rating in a report on Monday, June 19th. Finally, Northland Securities set a $7.00 target price on shares of Infinera Corporation and gave the stock a hold rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Infinera Corporation has an average rating of Hold and an average price target of $11.82.
Infinera Corporation (INFN) traded up 0.12% during midday trading on Friday, reaching $8.40. 1,455,798 shares of the company’s stock were exchanged. The stock’s market cap is $1.24 billion. The firm has a 50 day moving average of $10.61 and a 200-day moving average of $10.43. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50.
Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by $0.01. The business had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The company’s revenue was down 31.9% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. On average, equities research analysts predict that Infinera Corporation will post ($0.56) earnings per share for the current year.
In other Infinera Corporation news, President David F. Welch sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,000 shares of company stock worth $729,400. 2.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. purchased a new position in shares of Infinera Corporation during the first quarter valued at approximately $103,000. First National Bank of Omaha purchased a new position in shares of Infinera Corporation during the first quarter valued at approximately $104,000. US Bancorp DE raised its position in shares of Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 1,186 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Infinera Corporation during the first quarter valued at approximately $106,000. Finally, Fred Alger Management Inc. purchased a new position in shares of Infinera Corporation during the second quarter valued at approximately $107,000. 81.95% of the stock is owned by institutional investors and hedge funds.
About Infinera Corporation
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.
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