Infinera Corporation (NASDAQ:INFN) was upgraded by equities research analysts at Instinet from a “neutral” rating to a “buy” rating in a research report issued on Friday.
INFN has been the subject of several other reports. William Blair restated a “buy” rating on shares of Infinera Corporation in a report on Tuesday, October 25th. Zacks Investment Research lowered Infinera Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Needham & Company LLC restated a “strong-buy” rating and issued a $12.50 target price on shares of Infinera Corporation in a report on Sunday, November 20th. Piper Jaffray Companies initiated coverage on Infinera Corporation in a report on Thursday, January 19th. They issued a “neutral” rating and a $9.50 target price for the company. Finally, MKM Partners restated a “neutral” rating and issued a $8.00 target price on shares of Infinera Corporation in a report on Sunday, January 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Infinera Corporation has a consensus rating of “Hold” and a consensus price target of $12.27.
Shares of Infinera Corporation (NASDAQ:INFN) opened at 9.40 on Friday. The firm has a market cap of $1.36 billion, a P/E ratio of 54.97 and a beta of 1.45. Infinera Corporation has a 52-week low of $7.23 and a 52-week high of $17.04. The stock’s 50 day moving average is $8.78 and its 200-day moving average is $8.80.
Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, February 9th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The business earned $181 million during the quarter, compared to analysts’ expectations of $175.37 million. Infinera Corporation had a return on equity of 7.91% and a net margin of 2.63%. The firm’s quarterly revenue was down 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Equities analysts anticipate that Infinera Corporation will post $0.33 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors bought a new stake in shares of Infinera Corporation during the third quarter worth $29,844,000. Fiera Capital Corp acquired a new stake in shares of Infinera Corporation during the second quarter valued at approximately $29,645,000. Frontier Capital Management Co. LLC boosted its stake in shares of Infinera Corporation by 116.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,172,456 shares of the company’s stock valued at $26,934,000 after buying an additional 1,709,113 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Infinera Corporation by 115.5% in the third quarter. Bank of New York Mellon Corp now owns 2,429,486 shares of the company’s stock valued at $21,937,000 after buying an additional 1,302,228 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Infinera Corporation by 50.7% in the third quarter. Neuberger Berman Group LLC now owns 3,334,750 shares of the company’s stock valued at $30,113,000 after buying an additional 1,121,631 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.
Infinera Corporation Company Profile
Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.