Infinera Corporation (NASDAQ:INFN) had its price target decreased by analysts at MKM Partners from $14.00 to $13.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. MKM Partners’ target price points to a potential upside of 54.76% from the company’s current price.

Other analysts also recently issued research reports about the company. B. Riley restated a “neutral” rating and issued a $9.50 target price on shares of Infinera Corporation in a research report on Friday, May 5th. BidaskClub downgraded Infinera Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Citigroup Inc. boosted their target price on Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Friday, July 21st. Raymond James Financial, Inc. restated a “market perform” rating on shares of Infinera Corporation in a research report on Monday, July 10th. Finally, Zacks Investment Research upgraded Infinera Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.82.

Infinera Corporation (NASDAQ:INFN) traded up 0.12% on Friday, hitting $8.40. The stock had a trading volume of 1,455,798 shares. The company has a 50-day moving average price of $10.68 and a 200-day moving average price of $10.43. Infinera Corporation has a 1-year low of $7.23 and a 1-year high of $12.50. The stock’s market capitalization is $1.24 billion.

Infinera Corporation (NASDAQ:INFN) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the Zacks’ 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 12.39% and a negative net margin of 18.18%. The business’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Equities analysts predict that Infinera Corporation will post ($0.56) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Infinera Corporation (INFN) PT Lowered to $13.00 at MKM Partners” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/08/18/infinera-corporation-infn-pt-lowered-to-13-00-at-mkm-partners.html.

In other Infinera Corporation news, President David F. Welch sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President David F. Welch sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock valued at $729,400 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in INFN. Vanguard Group Inc. increased its stake in shares of Infinera Corporation by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock valued at $125,746,000 after buying an additional 369,519 shares during the last quarter. BlackRock Inc. increased its stake in shares of Infinera Corporation by 2.8% in the second quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock valued at $105,040,000 after buying an additional 268,912 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Infinera Corporation by 33.4% in the second quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock valued at $83,151,000 after buying an additional 1,949,576 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Infinera Corporation by 19.1% in the second quarter. Alliancebernstein L.P. now owns 5,961,108 shares of the communications equipment provider’s stock valued at $63,605,000 after buying an additional 957,416 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Infinera Corporation during the first quarter valued at about $52,424,000. Hedge funds and other institutional investors own 81.95% 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.

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

Receive News & Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related companies with MarketBeat.com's FREE daily email newsletter.