Infinera Corp. (INFN) Given Consensus Recommendation of “Hold” by Brokerages
Infinera Corp. (NASDAQ:INFN) has been given an average rating of “Hold” by the seventeen ratings firms that are covering the stock. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.39.
Several brokerages recently weighed in on INFN. B. Riley reiterated a “neutral” rating and set a $9.50 price target on shares of Infinera Corp. in a research report on Friday, May 5th. Nomura upgraded Infinera Corp. from a “neutral” rating to a “buy” rating in a research report on Friday, February 10th. Needham & Company LLC lifted their price target on Infinera Corp. from $12.50 to $13.50 and gave the company a “strong-buy” rating in a research report on Friday, February 10th. Zacks Investment Research cut Infinera Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, MKM Partners restated a “neutral” rating and issued a $9.00 price objective on shares of Infinera Corp. in a research report on Friday, March 31st.
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A number of institutional investors have recently added to or reduced their stakes in INFN. Metropolitan Life Insurance Co. NY raised its position in Infinera Corp. by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 96,866 shares of the communications equipment provider’s stock worth $991,000 after buying an additional 2,480 shares during the period. Divisar Capital Management LLC raised its position in Infinera Corp. by 23.5% in the first quarter. Divisar Capital Management LLC now owns 713,606 shares of the communications equipment provider’s stock worth $7,300,000 after buying an additional 135,886 shares during the period. Symmetry Peak Management LLC bought a new position in Infinera Corp. during the first quarter worth $256,000. Highbridge Capital Management LLC bought a new position in Infinera Corp. during the first quarter worth $380,000. Finally, State Street Corp raised its position in Infinera Corp. by 3.7% in the first quarter. State Street Corp now owns 2,682,165 shares of the communications equipment provider’s stock worth $27,440,000 after buying an additional 95,720 shares during the period. 70.16% of the stock is currently owned by institutional investors.
Infinera Corp. (NASDAQ:INFN) traded up 1.258% during midday trading on Friday, hitting $9.255. 523,294 shares of the stock traded hands. Infinera Corp. has a 12 month low of $7.23 and a 12 month high of $13.81. The stock’s market cap is $1.36 billion. The company has a 50-day moving average of $9.75 and a 200-day moving average of $9.45.
Infinera Corp. (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $172.62 million. Infinera Corp. had a positive return on equity of 1.60% and a negative net margin of 2.75%. Infinera Corp.’s quarterly revenue was down 28.3% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. On average, equities research analysts anticipate that Infinera Corp. will post ($0.44) earnings per share for the current year.
Infinera Corp. 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.
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