Infinera (INFN) Rating Lowered to Sell at BidaskClub

Infinera (NASDAQ:INFN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently weighed in on the stock. Nomura decreased their price target on shares of Infinera from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Zacks Investment Research raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. MKM Partners downgraded shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, November 9th. ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Finally, William Blair reaffirmed a “buy” rating on shares of Infinera in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.96.

Infinera (NASDAQ:INFN) remained flat at $$7.08 during mid-day trading on Thursday. 730,174 shares of the company’s stock were exchanged, compared to its average volume of 1,420,000. The firm has a market cap of $1,060.00, a price-to-earnings ratio of -6.62 and a beta of 1.43. Infinera has a 12-month low of $6.27 and a 12-month high of $12.50.

Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.12. The business had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. Infinera’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. research analysts predict that Infinera will post -0.85 EPS for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $6.33 per share, with a total value of $633,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Infinera by 4.9% during the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 710 shares in the last quarter. Legal & General Group Plc increased its position in shares of Infinera by 1.8% during the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock worth $591,000 after acquiring an additional 972 shares in the last quarter. Amalgamated Bank increased its position in shares of Infinera by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after acquiring an additional 992 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Infinera by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 112,126 shares of the communications equipment provider’s stock worth $1,196,000 after acquiring an additional 2,781 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Infinera by 23.1% during the second quarter. D.A. Davidson & CO. now owns 20,013 shares of the communications equipment provider’s stock worth $213,000 after acquiring an additional 3,757 shares in the last quarter. 90.57% of the stock is owned by institutional investors.

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Infinera 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 (NASDAQ:INFN)

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