Infinera (NASDAQ:INFN) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report sent to investors on Friday, December 22nd.

Other equities research analysts also recently issued reports about the stock. William Blair restated a buy rating on shares of Infinera in a research report on Thursday, November 9th. Nomura cut their price objective on shares of Infinera from $13.00 to $11.00 and set a buy rating for the company in a research report on Thursday, November 9th. Craig Hallum reaffirmed a buy rating and set a $10.00 target price (down from $15.00) on shares of Infinera in a report on Thursday, November 9th. B. Riley reaffirmed a buy rating and set a $12.00 target price (down from $14.00) on shares of Infinera in a report on Tuesday, November 7th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $13.00 target price on shares of Infinera in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $10.96.

Shares of Infinera (NASDAQ INFN) remained flat at $$7.08 during trading hours on Friday. 730,174 shares of the stock were exchanged, compared to its average volume of 1,430,000. Infinera has a 12-month low of $6.27 and a 12-month high of $12.50. The firm has a market capitalization of $1,060.00, a price-to-earnings ratio of -6.62 and a beta of 1.43.

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

In other news, CEO Thomas J. Fallon acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average cost of $6.33 per share, with a total value of $633,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

A number of large investors have recently made changes to their positions in INFN. US Bancorp DE increased its stake in Infinera 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 acquiring an additional 1,186 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in Infinera in the second quarter valued at approximately $107,000. AlphaOne Investment Services LLC acquired a new stake in Infinera in the second quarter valued at approximately $108,000. Teacher Retirement System of Texas boosted its position in Infinera by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 409 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Infinera by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 710 shares in the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.

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About Infinera

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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