Brokerages Set Infinera Corp. (INFN) PT at $8.88

Infinera Corp. (NASDAQ:INFN) has been given an average rating of “Hold” by the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $8.88.

A number of brokerages have commented on INFN. B. Riley cut their price target on shares of Infinera from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Infinera from a “hold” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, BidaskClub upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Friday, August 24th.

In other news, CEO Thomas J. Fallon bought 50,000 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was bought at an average price of $4.63 per share, for a total transaction of $231,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David W. Heard bought 20,000 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $4.74 per share, with a total value of $94,800.00. Following the purchase, the chief operating officer now directly owns 44,532 shares of the company’s stock, valued at approximately $211,081.68. The disclosure for this purchase can be found here. Insiders bought 110,000 shares of company stock valued at $506,300 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of INFN. Paloma Partners Management Co bought a new position in shares of Infinera in the third quarter valued at approximately $103,000. Verition Fund Management LLC bought a new position in shares of Infinera in the third quarter valued at approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Infinera by 100.4% in 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 last quarter. Cpwm LLC bought a new position in shares of Infinera in the third quarter valued at approximately $155,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Infinera in the third quarter valued at approximately $165,000. Institutional investors own 80.64% of the company’s stock.

Shares of NASDAQ INFN traded down $0.07 during mid-day trading on Thursday, hitting $4.50. The company had a trading volume of 628,125 shares, compared to its average volume of 5,062,647. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 3.92. Infinera has a 12 month low of $4.11 and a 12 month high of $12.39. The stock has a market cap of $787.44 million, a PE ratio of -5.42 and a beta of 0.52.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Infinera had a negative net margin of 19.18% and a negative return on equity of 11.58%. The business had revenue of $200.41 million during the quarter, compared to analysts’ expectations of $210.57 million. During the same quarter last year, the company earned ($0.11) earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Infinera will post -0.69 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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