Infinera (NASDAQ:INFN) Stock Rating Upgraded by ValuEngine

Infinera (NASDAQ:INFN) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other research firms have also recently commented on INFN. JPMorgan Chase & Co. cut Infinera from a “neutral” rating to an “underweight” rating and set a $2.99 target price on the stock. in a research note on Monday, June 3rd. BidaskClub raised Infinera from a “strong sell” rating to a “sell” rating in a research note on Friday, July 19th. Northland Securities reissued a “buy” rating and issued a $7.00 target price on shares of Infinera in a research note on Thursday, May 9th. Finally, B. Riley raised Infinera from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.75 to $6.00 in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $6.35.

Shares of NASDAQ INFN traded down $0.04 during trading on Thursday, reaching $3.70. The company had a trading volume of 2,450,938 shares, compared to its average volume of 2,665,753. Infinera has a 12-month low of $2.80 and a 12-month high of $9.54. The stock has a market cap of $664.90 million, a PE ratio of -5.78 and a beta of 0.79. The business’s 50-day moving average is $3.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.78.

Infinera (NASDAQ:INFN) last released its 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 return on equity of 20.02% and a negative net margin of 29.68%. The firm had revenue of $295.60 million for the quarter, compared to analysts’ expectations of $311.11 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis. Research analysts forecast that Infinera will post -0.92 EPS for the current year.

In other news, Director Marcel Gani bought 100,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $3.15 per share, with a total value of $315,000.00. Following the completion of the acquisition, the director now owns 222,281 shares in the company, valued at $700,185.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Fallon bought 50,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $3.32 per share, for a total transaction of $166,000.00. The disclosure for this purchase can be found here. Insiders have purchased 175,000 shares of company stock worth $559,250 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Northern Trust Corp lifted its position in shares of Infinera by 0.7% in the fourth quarter. Northern Trust Corp now owns 1,831,820 shares of the communications equipment provider’s stock worth $7,308,000 after purchasing an additional 12,431 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Infinera by 23.5% in the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 3,288 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Infinera by 19.6% in the fourth quarter. Two Sigma Advisers LP now owns 751,293 shares of the communications equipment provider’s stock worth $2,998,000 after purchasing an additional 123,000 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Infinera by 65.2% in the fourth quarter. Bank of America Corp DE now owns 3,314,218 shares of the communications equipment provider’s stock worth $13,224,000 after purchasing an additional 1,307,780 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Infinera by 354.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 47,175 shares of the communications equipment provider’s stock worth $188,000 after purchasing an additional 36,785 shares in the last quarter. 86.32% of the stock is currently owned by institutional investors.

Infinera Company Profile

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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Analyst Recommendations for Infinera (NASDAQ:INFN)

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