Infinera Corporation (NASDAQ:INFN) had its price objective lowered by investment analysts at Deutsche Bank AG from $12.50 to $12.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the communications equipment provider’s stock. Deutsche Bank AG’s target price points to a potential upside of 25.39% from the company’s previous close.

Several other research firms have also issued reports on INFN. Citigroup Inc. raised their target price on shares of Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a report on Friday, July 21st. Stifel Nicolaus restated a “hold” rating and issued a $10.00 target price on shares of Infinera Corporation in a report on Friday, July 21st. MKM Partners restated a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a report on Friday, July 21st. Needham & Company LLC raised their target price on shares of Infinera Corporation from $13.50 to $14.50 and gave the stock a “strong-buy” rating in a report on Monday, June 19th. Finally, B. Riley restated a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a report on Friday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Infinera Corporation currently has an average rating of “Hold” and an average price target of $12.05.

Infinera Corporation (NASDAQ INFN) traded down 3.1996% during trading on Monday, hitting $9.2638. 5,180,909 shares of the company’s stock were exchanged. Infinera Corporation has a 52-week low of $7.23 and a 52-week high of $12.50. The company’s market cap is $1.36 billion. The firm has a 50 day moving average price of $11.43 and a 200 day moving average price of $10.41.

Infinera Corporation (NASDAQ:INFN) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The firm had revenue of $176.28 million during the quarter, compared to the consensus estimate of $181.16 million. Infinera Corporation had a negative return on equity of 12.25% and a negative net margin of 18.18%. Infinera Corporation’s revenue was down 31.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, equities research analysts predict that Infinera Corporation will post ($0.48) earnings per share for the current year.

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In other Infinera Corporation news, President David F. Welch sold 40,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $12.09, for a total transaction of $483,600.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President David F. Welch sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of INFN. First Trust Advisors LP increased its position in Infinera Corporation by 39.4% in the first quarter. First Trust Advisors LP now owns 219,796 shares of the communications equipment provider’s stock worth $2,249,000 after buying an additional 62,105 shares during the period. Jennison Associates LLC increased its position in Infinera Corporation by 4,929.1% in the first quarter. Jennison Associates LLC now owns 1,883,149 shares of the communications equipment provider’s stock worth $19,265,000 after buying an additional 1,845,704 shares during the period. Wells Fargo & Company MN increased its position in Infinera Corporation by 4.2% in the first quarter. Wells Fargo & Company MN now owns 1,611,289 shares of the communications equipment provider’s stock worth $16,483,000 after buying an additional 65,192 shares during the period. Granite Investment Partners LLC increased its position in Infinera Corporation by 110.6% in the first quarter. Granite Investment Partners LLC now owns 1,286,114 shares of the communications equipment provider’s stock worth $13,157,000 after buying an additional 675,407 shares during the period. Finally, First Mercantile Trust Co. increased its position in Infinera Corporation by 6.4% in the first quarter. First Mercantile Trust Co. now owns 30,466 shares of the communications equipment provider’s stock worth $311,000 after buying an additional 1,820 shares during the period. 81.05% of the stock is currently owned by institutional investors and hedge funds.

Infinera Corporation 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.

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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