Infinera Corporation (NASDAQ:INFN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

INFN has been the subject of several other reports. ValuEngine upgraded shares of Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Wells Fargo & Company upgraded shares of Infinera Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $13.00 in a research note on Friday, May 26th. Northland Securities set a $7.00 price objective on shares of Infinera Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, Needham & Company LLC boosted their price objective on shares of Infinera Corporation from $13.50 to $14.50 and gave the stock a “strong-buy” rating in a research note on Monday, June 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Infinera Corporation has an average rating of “Hold” and a consensus target price of $12.05.

Shares of Infinera Corporation (NASDAQ:INFN) traded down 1.19% during trading on Tuesday, reaching $9.14. 3,016,103 shares of the company’s stock traded hands. The stock has a 50-day moving average of $11.40 and a 200-day moving average of $10.42. Infinera Corporation has a 1-year low of $7.23 and a 1-year high of $12.50. The company’s market capitalization is $1.34 billion.

Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.01. Infinera Corporation had a negative return on equity of 12.25% and a negative net margin of 18.18%. The business had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $181.16 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Infinera Corporation’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, equities analysts predict that Infinera Corporation will post ($0.54) EPS for the current fiscal year.

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In other news, President David F. Welch sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David F. Welch sold 5,000 shares of the company’s stock in a transaction on 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. Insiders sold 65,000 shares of company stock valued at $729,400 over the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bbva Compass Bancshares Inc. bought a new position in Infinera Corporation during the first quarter worth approximately $103,000. First National Bank of Omaha bought a new position in Infinera Corporation during the first quarter worth approximately $104,000. US Bancorp DE increased its position in Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares during the period. Karp Capital Management Corp bought a new position in Infinera Corporation during the first quarter worth approximately $106,000. Finally, Summit Securities Group LLC bought a new position in Infinera Corporation during the second quarter worth approximately $109,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.

About Infinera Corporation

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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Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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