Infinera Corp. (NASDAQ:INFN) has been assigned an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.33.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research report on Monday, June 3rd. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Northland Securities reissued a “buy” rating and issued a $55.00 price objective on shares of Heron Therapeutics in a research report on Thursday, May 9th. Finally, BidaskClub cut shares of YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th.
Shares of INFN stock traded up $0.02 during trading hours on Friday, reaching $2.87. 1,732,300 shares of the stock were exchanged, compared to its average volume of 2,619,607. Infinera has a 12-month low of $2.80 and a 12-month high of $9.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.78 and a quick ratio of 1.10. The stock’s 50-day moving average is $3.06. The company has a market cap of $507.56 million, a price-to-earnings ratio of -4.48 and a beta of 0.77.
Infinera (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The firm had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $311.11 million. During the same period in the previous year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities research analysts anticipate that Infinera will post -0.9 earnings per share for the current fiscal year.
In other Infinera news, Director Marcel Gani purchased 100,000 shares of Infinera stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average price of $3.15 per share, for a total transaction of $315,000.00. Following the acquisition, the director now owns 222,281 shares in the company, valued at approximately $700,185.15. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Fallon purchased 50,000 shares of Infinera stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $3.32 per share, with a total value of $166,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 175,000 shares of company stock valued at $559,250. 2.80% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Infinera by 0.6% during the 1st quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock worth $114,380,000 after acquiring an additional 150,000 shares in the last quarter. Oaktree Capital Management LP bought a new position in shares of Infinera during the 4th quarter worth approximately $83,692,000. Elk Creek Partners LLC raised its stake in shares of Infinera by 53.5% during the 4th quarter. Elk Creek Partners LLC now owns 3,608,233 shares of the communications equipment provider’s stock worth $14,397,000 after acquiring an additional 1,257,311 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Infinera by 65.2% during the 4th quarter. Bank of America Corp DE now owns 3,314,218 shares of the communications equipment provider’s stock worth $13,224,000 after acquiring an additional 1,307,780 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Infinera by 49.4% during the 4th quarter. Two Sigma Investments LP now owns 1,991,405 shares of the communications equipment provider’s stock worth $7,946,000 after acquiring an additional 658,840 shares in the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.
Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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