Infinera Corp. (INFN) Receives Consensus Rating of “Buy” from Brokerages

Infinera Corp. (NASDAQ:INFN) has been given an average recommendation of “Buy” by the seventeen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.27.

A number of brokerages have recently weighed in on INFN. William Blair reaffirmed a “buy” rating on shares of Infinera in a research note on Thursday, November 9th. BidaskClub cut shares of Infinera from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 30th. Craig Hallum reissued a “buy” rating and set a $10.00 price target (down from $15.00) on shares of Infinera in a research report on Thursday, November 9th. ValuEngine cut shares of Infinera from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Finally, MKM Partners cut shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Thursday, November 9th.

Shares of Infinera (NASDAQ INFN) opened at $9.82 on Tuesday. The firm has a market cap of $1,470.00, a PE ratio of -7.50 and a beta of 1.24. Infinera has a 52 week low of $6.10 and a 52 week high of $12.38.

Infinera (NASDAQ:INFN) last announced its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $195.82 million for the quarter, compared to analyst estimates 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 for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. equities analysts predict that Infinera will post -0.43 earnings per share for the current year.

In other Infinera news, insider David F. Welch sold 60,000 shares of Infinera stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $9.07, for a total value of $544,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David F. Welch sold 80,000 shares of Infinera stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total transaction of $731,200.00. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors raised its holdings in Infinera by 127.3% in the third quarter. Nationwide Fund Advisors now owns 214,224 shares of the communications equipment provider’s stock worth $1,900,000 after buying an additional 119,968 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Infinera by 65.2% in the third quarter. JPMorgan Chase & Co. now owns 3,664,481 shares of the communications equipment provider’s stock worth $32,176,000 after buying an additional 1,446,641 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Infinera by 8.1% in the third quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock worth $15,505,000 after buying an additional 130,573 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Infinera by 33.4% in the third quarter. Ameriprise Financial Inc. now owns 374,852 shares of the communications equipment provider’s stock worth $3,327,000 after buying an additional 93,825 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Infinera in the third quarter worth about $20,143,000. 91.33% of the stock is owned by institutional investors and hedge funds.

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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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