Shares of Infinera Corp. (NASDAQ:INFN) were up 5.2% during trading on Friday . The stock traded as high as $4.46 and last traded at $4.67. Approximately 194,690 shares traded hands during trading, a decline of 94% from the average daily volume of 3,114,663 shares. The stock had previously closed at $4.44.
Several analysts recently commented on INFN shares. Rosenblatt Securities set a $13.00 target price on shares of Infinera and gave the company a “buy” rating in a research note on Tuesday, July 24th. Morgan Stanley set a $10.00 target price on shares of Infinera and gave the company a “buy” rating in a research note on Wednesday, September 26th. BidaskClub lowered shares of Infinera from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. ValuEngine raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research lowered shares of Infinera from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.44.
The firm has a market cap of $953.13 million, a PE ratio of -5.66 and a beta of 0.52.
Several hedge funds have recently added to or reduced their stakes in INFN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Infinera by 100.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock valued at $155,000 after acquiring an additional 7,800 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Infinera during the third quarter valued at approximately $165,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Infinera during the second quarter valued at approximately $242,000. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Infinera by 48.6% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 56,473 shares of the communications equipment provider’s stock valued at $412,000 after acquiring an additional 18,457 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Infinera by 21.1% during the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock valued at $753,000 after acquiring an additional 12,098 shares during the period. Institutional investors and hedge funds own 82.94% of the company’s stock.
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Infinera Company Profile (NASDAQ:INFN)
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.
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