Infinera Corp. (INFN) Receives $11.27 Average Target Price from Analysts

Infinera Corp. (NASDAQ:INFN) has earned a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.27.

Several analysts have recently weighed in on the stock. William Blair restated a “buy” rating on shares of Infinera in a research report on Thursday, November 9th. BidaskClub downgraded shares of Infinera from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 30th. Craig Hallum restated a “buy” rating and set a $10.00 price objective (down previously from $15.00) on shares of Infinera in a research report on Thursday, November 9th. ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, MKM Partners downgraded shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Thursday, November 9th.

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Shares of Infinera (NASDAQ INFN) traded up $0.04 during trading hours on Tuesday, hitting $9.95. 1,349,359 shares of the stock traded hands, compared to its average volume of 2,110,000. The stock has a market cap of $1,490.00, a P/E ratio of -7.60 and a beta of 1.24. Infinera has a twelve month low of $6.10 and a twelve month high of $12.38.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. The business had revenue of $195.82 million during the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS. sell-side analysts predict that Infinera will post -0.43 earnings per share for the current fiscal year.

In related news, insider David F. Welch sold 80,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $9.14, for a total value of $731,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David F. Welch sold 60,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $9.07, for a total transaction of $544,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,093 shares of company stock valued at $2,770,803. 2.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in INFN. Ameriprise Financial Inc. raised its position in Infinera by 18.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 281,027 shares of the communications equipment provider’s stock valued at $3,014,000 after purchasing an additional 43,635 shares during the last quarter. Nationwide Fund Advisors raised its position in Infinera by 6.6% in the 2nd quarter. Nationwide Fund Advisors now owns 94,256 shares of the communications equipment provider’s stock valued at $1,006,000 after purchasing an additional 5,802 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Infinera by 18.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 85,161 shares of the communications equipment provider’s stock valued at $909,000 after purchasing an additional 13,408 shares during the last quarter. Northern Trust Corp raised its position in Infinera by 1.3% in the 2nd quarter. Northern Trust Corp now owns 1,874,770 shares of the communications equipment provider’s stock valued at $20,004,000 after purchasing an additional 24,773 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Infinera by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock valued at $125,746,000 after purchasing an additional 369,519 shares during the last quarter. Hedge funds and other institutional investors own 91.33% of the company’s stock.

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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.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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