Infinera (INFN) Downgraded by Jefferies Group

Jefferies Group cut shares of Infinera (NASDAQ:INFN) from a hold rating to an underperform rating in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $6.10 target price on the communications equipment provider’s stock, down from their previous target price of $12.39.

A number of other analysts have also commented on the company. Zacks Investment Research raised Infinera from a sell rating to a hold rating in a research note on Tuesday, February 13th. William Blair reaffirmed an outperform rating on shares of Infinera in a research note on Tuesday, February 6th. Northland Securities raised Infinera from a market perform rating to an outperform rating and set a $11.00 price target for the company in a research note on Thursday, February 8th. BidaskClub lowered Infinera from a sell rating to a strong sell rating in a research note on Tuesday, January 30th. Finally, ValuEngine raised Infinera from a sell rating to a hold rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Infinera has a consensus rating of Hold and a consensus price target of $11.44.

NASDAQ:INFN opened at $8.80 on Tuesday. The company has a market cap of $1.36 billion, a PE ratio of -10.60 and a beta of 0.49. Infinera has a fifty-two week low of $6.10 and a fifty-two week high of $12.39.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, May 9th. The communications equipment provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Infinera had a negative return on equity of 15.84% and a negative net margin of 23.48%. The company had revenue of $202.70 million during the quarter, compared to analyst estimates of $200.81 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. sell-side analysts forecast that Infinera will post -0.34 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in Infinera by 2,170.9% in the fourth quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after purchasing an additional 15,196 shares in the last quarter. Hsbc Holdings PLC bought a new position in Infinera in the first quarter worth $123,000. Xact Kapitalforvaltning AB bought a new position in Infinera in the fourth quarter worth $130,000. Zeke Capital Advisors LLC bought a new position in Infinera in the first quarter worth $134,000. Finally, Virtu Financial LLC bought a new position in Infinera in the fourth quarter worth $155,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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