Infinera (INFN) Trading Up 5.2%

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.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). Infinera had a negative net margin of 19.18% and a negative return on equity of 11.78%. The business had revenue of $200.41 million for the quarter, compared to analyst estimates of $210.57 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Infinera Corp. will post -0.56 earnings per share for the current year.

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.

ILLEGAL ACTIVITY NOTICE: “Infinera (INFN) Trading Up 5.2%” was published by WKRB News and is the property of of WKRB News. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.wkrb13.com/2018/11/09/infinera-infn-trading-up-5-2.html.

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.

Recommended Story: Consumer behavior in bull markets

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

Leave a Reply