MKM Partners cut shares of Infinera Corporation (NASDAQ:INFN) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat reports. They currently have $13.00 price objective on the communications equipment provider’s stock.
Several other analysts have also commented on INFN. Zacks Investment Research lowered Infinera Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th. BidaskClub raised Infinera Corporation from a strong sell rating to a sell rating in a research note on Wednesday, July 12th. Deutsche Bank AG reissued a buy rating and issued a $12.50 price objective (up previously from $12.00) on shares of Infinera Corporation in a research note on Monday, July 17th. Craig Hallum began coverage on Infinera Corporation in a research note on Tuesday, July 18th. They issued a buy rating and a $15.00 price objective on the stock. Finally, Stifel Nicolaus reissued a hold rating and issued a $10.00 price objective on shares of Infinera Corporation in a research note on Friday, July 21st. Two 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 stock currently has a consensus rating of Hold and a consensus price target of $10.96.
Infinera Corporation (NASDAQ INFN) traded down $0.01 on Thursday, hitting $6.35. The stock had a trading volume of 4,042,700 shares, compared to its average volume of 1,910,151. Infinera Corporation has a 1-year low of $6.28 and a 1-year high of $12.50.
Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.12. The business had revenue of $192.60 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. analysts predict that Infinera Corporation will post -0.85 EPS for the current year.
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In other news, CEO Thomas J. Fallon bought 100,000 shares of the stock in a transaction dated 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $9.02, for a total value of $180,400.00. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of INFN. UBS Asset Management Americas Inc. increased its stake in Infinera Corporation by 42.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 71,753 shares of the communications equipment provider’s stock worth $734,000 after acquiring an additional 21,217 shares during the period. Karp Capital Management Corp bought a new position in shares of Infinera Corporation in the 1st quarter valued at $106,000. Wellington Management Group LLP bought a new position in shares of Infinera Corporation in the 1st quarter valued at $3,383,000. Teachers Advisors LLC increased its stake in shares of Infinera Corporation by 510.1% in the 1st quarter. Teachers Advisors LLC now owns 1,416,917 shares of the communications equipment provider’s stock valued at $14,495,000 after purchasing an additional 1,184,678 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Infinera Corporation by 27.8% in the 1st quarter. Legal & General Group Plc now owns 54,446 shares of the communications equipment provider’s stock valued at $557,000 after purchasing an additional 11,828 shares during the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
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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