Infinera Corporation (NASDAQ:INFN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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. “

A number of other research analysts have also weighed in on INFN. B. Riley reissued a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a research note on Friday, August 4th. BidaskClub lowered shares of Infinera Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Needham & Company LLC reissued a “strong-buy” rating and issued a $13.00 target price (down from $14.50) on shares of Infinera Corporation in a research note on Wednesday, August 9th. MKM Partners decreased their target price on shares of Infinera Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 18th. Finally, Deutsche Bank AG decreased their target price on shares of Infinera Corporation from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Four analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Infinera Corporation currently has a consensus rating of “Hold” and a consensus target price of $11.82.

Shares of Infinera Corporation (NASDAQ:INFN) traded down 1.34% during midday trading on Wednesday, reaching $8.84. The company’s stock had a trading volume of 499,540 shares. The stock’s market capitalization is $1.31 billion. The company has a 50 day moving average price of $8.51 and a 200-day moving average price of $9.95. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50.

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). Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The business had revenue of $176.28 million during the quarter, compared to analysts’ expectations of $181.16 million. During the same period last year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was down 31.9% compared to the same quarter last year. On average, equities research analysts expect that Infinera Corporation will post ($0.56) EPS for the current year.

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In related news, President David F. Welch sold 20,000 shares of Infinera Corporation 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President David F. Welch sold 5,000 shares of Infinera Corporation stock in a transaction that occurred 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. In the last ninety days, insiders have sold 45,000 shares of company stock worth $426,200. Corporate insiders own 2.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Infinera Corporation by 13.7% in the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 1,186 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Infinera Corporation in the 1st quarter valued at approximately $106,000. Fred Alger Management Inc. acquired a new stake in Infinera Corporation in the 2nd quarter valued at approximately $107,000. AlphaOne Investment Services LLC acquired a new stake in Infinera Corporation in the 2nd quarter valued at approximately $108,000. Finally, Summit Securities Group LLC acquired a new stake in Infinera Corporation in the 2nd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 86.67% 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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