Infinera (NASDAQ:INFN) was downgraded by research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Monday.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. ValuEngine raised Infinera from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Citigroup dropped their price target on Infinera from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.50 price target (up from $8.00) on shares of Infinera in a research report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.32.
Shares of Infinera stock opened at $10.80 on Monday. Infinera has a 1-year low of $6.10 and a 1-year high of $12.38. The firm has a market capitalization of $1,684.93, a P/E ratio of -8.18 and a beta of 0.63.
Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. Infinera had a negative return on equity of 17.20% and a negative net margin of 26.26%. The firm had revenue of $195.82 million during the quarter, compared to analyst estimates of $190.26 million. During the same period in the previous year, the company earned ($0.12) EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. equities research analysts forecast that Infinera will post -0.43 EPS for the current year.
In other news, insider David F. Welch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $9.07, for a total transaction of $544,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David F. Welch sold 149,093 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total value of $1,495,402.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,093 shares of company stock worth $2,770,803. 3.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INFN. Jane Street Group LLC increased its position in shares of Infinera by 2,170.9% during the fourth quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock valued at $101,000 after purchasing an additional 15,196 shares during the period. Xact Kapitalforvaltning AB bought a new stake in shares of Infinera during the fourth quarter valued at approximately $130,000. Virtu Financial LLC bought a new stake in shares of Infinera during the fourth quarter valued at approximately $155,000. MANA Advisors LLC bought a new stake in shares of Infinera during the fourth quarter valued at approximately $161,000. Finally, Aperio Group LLC increased its position in shares of Infinera by 87.6% during the third quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 8,847 shares during the period. Institutional investors and hedge funds own 87.32% of the company’s stock.
Infinera Company Profile
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.
Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.