Infinera Corp. (INFN) Receives Consensus Rating of “Hold” from Analysts
Shares of Infinera Corp. (NASDAQ:INFN) have been assigned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $10.67.
A number of research analysts recently commented on the company. Northland Securities lowered Infinera Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Jefferies Group lowered Infinera Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Raymond James Financial Inc. lowered Infinera Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Deutsche Bank AG cut their target price on Infinera Corp. from $23.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. lowered Infinera Corp. from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $8.50 in a research note on Thursday, July 28th.
In other Infinera Corp. news, CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $8.54 per share, with a total value of $854,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marcel Gani purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average cost of $8.60 per share, for a total transaction of $430,000.00. Following the transaction, the director now owns 87,547 shares of the company’s stock, valued at $752,904.20. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/infinera-corp-infn-receives-consensus-rating-of-hold-from-analysts.html
Several large investors have recently added to or reduced their stakes in INFN. Virginia Retirement System acquired a new stake in Infinera Corp. during the first quarter worth approximately $432,000. TIAA CREF Investment Management LLC raised its stake in shares of Infinera Corp. by 366.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,982,616 shares of the company’s stock worth $31,841,000 after buying an additional 1,557,732 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Infinera Corp. by 735.5% in the first quarter. Teachers Advisors Inc. now owns 1,584,139 shares of the company’s stock worth $25,441,000 after buying an additional 1,394,542 shares in the last quarter. BlackRock Inc. raised its stake in shares of Infinera Corp. by 124.4% in the first quarter. BlackRock Inc. now owns 8,956 shares of the company’s stock worth $144,000 after buying an additional 4,965 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Infinera Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,409,749 shares of the company’s stock worth $54,761,000 after buying an additional 10,219 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.
Shares of Infinera Corp. (NASDAQ:INFN) traded down 1.069% during midday trading on Thursday, reaching $8.795. 920,887 shares of the company’s stock traded hands. The firm has a market capitalization of $1.26 billion, a P/E ratio of 29.123 and a beta of 1.11. The stock’s 50 day moving average price is $8.83 and its 200 day moving average price is $11.37. Infinera Corp. has a 52-week low of $8.20 and a 52-week high of $22.85.
Infinera Corp. (NASDAQ:INFN) last issued its earnings results on Wednesday, July 27th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business earned $258.82 million during the quarter, compared to analyst estimates of $255.83 million. Infinera Corp. had a return on equity of 11.38% and a net margin of 4.48%. Infinera Corp.’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, equities research analysts anticipate that Infinera Corp. will post $0.42 EPS for the current fiscal year.
About Infinera Corp.
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.
Receive News & Ratings for Infinera Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corp. and related companies with MarketBeat.com's FREE daily email newsletter.