Infinera (INFN) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

INFN has been the subject of a number of other reports. BidaskClub upgraded Infinera from a sell rating to a hold rating in a research note on Saturday, November 3rd. MKM Partners decreased their price objective on Infinera to $10.00 and set a neutral rating for the company in a research note on Tuesday, July 24th. Morgan Stanley assumed coverage on Infinera in a research note on Tuesday, September 25th. They set an overweight rating and a $9.50 price objective for the company. Stifel Nicolaus assumed coverage on Infinera in a research note on Monday, October 22nd. They set a hold rating and a $8.00 price objective for the company. Finally, Northland Securities upgraded Infinera from a market perform rating to an outperform rating and set a $12.00 price objective for the company in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $9.13.

Shares of NASDAQ INFN opened at $4.50 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.92 and a quick ratio of 2.95. The firm has a market cap of $799.69 million, a P/E ratio of -5.42 and a beta of 0.52. Infinera has a 1-year low of $4.11 and a 1-year high of $12.39.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.41 million during the quarter, compared to analysts’ expectations of $210.57 million. Infinera had a negative return on equity of 11.58% and a negative net margin of 19.18%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) EPS. As a group, equities analysts forecast that Infinera will post -0.69 EPS for the current fiscal year.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 7,800 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock worth $753,000 after purchasing an additional 12,098 shares during the last quarter. Eagle Boston Investment Management Inc. raised its stake in shares of Infinera by 4.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 324,744 shares of the communications equipment provider’s stock worth $3,224,000 after purchasing an additional 13,712 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Infinera in the third quarter worth about $103,000. Finally, Verition Fund Management LLC purchased a new position in shares of Infinera in the third quarter worth about $104,000. Institutional investors own 80.64% 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.

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