Shares of Infinera Co. (NASDAQ:INFN – Get Free Report) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.09.
INFN has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Infinera in a research note on Wednesday. They set a “sell” rating on the stock. B. Riley reduced their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 price target (down from $12.00) on shares of Infinera in a report on Monday, July 1st. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th.
Get Our Latest Report on Infinera
Infinera Trading Down 0.2 %
Infinera (NASDAQ:INFN – Get Free Report) last announced its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The company had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera’s revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Infinera will post -0.17 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Infinera
A number of hedge funds have recently made changes to their positions in INFN. SageView Advisory Group LLC acquired a new stake in Infinera in the 1st quarter valued at approximately $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter valued at $48,000. Worth Venture Partners LLC bought a new stake in shares of Infinera during the fourth quarter valued at about $53,000. Ironwood Investment Counsel LLC acquired a new stake in Infinera in the fourth quarter worth about $56,000. Finally, RPO LLC bought a new position in Infinera in the 4th quarter valued at about $82,000. Institutional investors own 97.54% of the company’s stock.
About Infinera
Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.
Featured Articles
- Five stocks we like better than Infinera
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- Do ETFs Pay Dividends? What You Need to Know
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
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.