Infinera (NASDAQ:INFN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, reports.

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. “

Several other brokerages have also recently commented on INFN. MKM Partners cut shares of Infinera from a buy rating to a neutral rating and reduced their price objective for the company from $11.50 to $9.00 in a research note on Friday, September 24th. JPMorgan Chase & Co. cut shares of Infinera from a neutral rating to an underweight rating and reduced their price objective for the company from $11.00 to $9.00 in a research note on Monday, October 18th. Finally, Needham & Company LLC reiterated a buy rating and issued a $15.00 price objective on shares of Infinera in a research note on Monday, September 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from, the stock currently has an average rating of Hold and an average price target of $10.36.

INFN stock opened at $9.03 on Wednesday. Infinera has a one year low of $7.22 and a one year high of $11.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.19 and a current ratio of 1.75. The company has a fifty day moving average of $8.94 and a 200-day moving average of $8.84.

Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, November 3rd. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Infinera had a negative net margin of 10.71% and a negative return on equity of 9.41%. The company had revenue of $355.81 million during the quarter, compared to analysts’ expectations of $355.66 million. During the same quarter last year, the business earned ($0.03) EPS. As a group, equities analysts anticipate that Infinera will post -0.28 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC purchased a new position in Infinera during the 3rd quarter valued at about $55,000. Macquarie Group Ltd. grew its holdings in shares of Infinera by 272.6% during the third quarter. Macquarie Group Ltd. now owns 7,932 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 5,803 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Infinera during the third quarter worth about $86,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Infinera during the second quarter worth about $102,000. Finally, Pinz Capital Management LP purchased a new stake in Infinera in the second quarter valued at approximately $106,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

About Infinera

Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.

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