BidaskClub upgraded shares of Infinera Corporation (NASDAQ:INFN) from a strong sell rating to a sell rating in a research report released on Wednesday morning.

INFN has been the subject of a number of other reports. B. Riley upgraded shares of Infinera Corporation from a neutral rating to a buy rating and boosted their target price for the company from $9.50 to $14.00 in a report on Thursday, June 22nd. Deutsche Bank AG boosted their target price on shares of Infinera Corporation from $12.00 to $13.00 and gave the company a buy rating in a report on Monday, March 20th. Zacks Investment Research downgraded shares of Infinera Corporation from a hold rating to a sell rating in a report on Wednesday, July 12th. MKM Partners restated a neutral rating and issued a $9.00 target price on shares of Infinera Corporation in a report on Friday, March 31st. Finally, Needham & Company LLC restated a strong-buy rating and issued a $13.50 target price on shares of Infinera Corporation in a report on Monday, May 8th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $11.04.

Shares of Infinera Corporation (NASDAQ INFN) traded down 0.62% during trading on Wednesday, hitting $11.31. 1,116,773 shares of the stock traded hands. The company’s 50 day moving average is $10.53 and its 200 day moving average is $9.97. Infinera Corporation has a 52-week low of $7.23 and a 52-week high of $13.24. The firm’s market cap is $1.66 billion.

Infinera Corporation (NASDAQ:INFN) last released its earnings results on Thursday, May 4th. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). Infinera Corporation had a negative net margin of 9.54% and a negative return on equity of 4.94%. The firm had revenue of $175.50 million during the quarter, compared to the consensus estimate of $172.62 million. During the same period in the previous year, the firm earned $0.19 earnings per share. Infinera Corporation’s revenue was down 28.3% compared to the same quarter last year. On average, equities research analysts predict that Infinera Corporation will post ($0.44) EPS for the current year.

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In other news, President David F. Welch sold 40,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $12.09, for a total transaction of $483,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. boosted its position in Infinera Corporation by 2.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 16,714 shares of the communications equipment provider’s stock worth $178,000 after buying an additional 469 shares during the last quarter. First Mercantile Trust Co. boosted its position in Infinera Corporation by 6.4% in the first quarter. First Mercantile Trust Co. now owns 30,466 shares of the communications equipment provider’s stock worth $311,000 after buying an additional 1,820 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Infinera Corporation by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 96,866 shares of the communications equipment provider’s stock worth $991,000 after buying an additional 2,480 shares during the last quarter. Teachers Advisors LLC boosted its position in Infinera Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 232,239 shares of the communications equipment provider’s stock worth $1,972,000 after buying an additional 4,268 shares during the last quarter. Finally, American International Group Inc. boosted its position in Infinera Corporation by 5.3% in the first quarter. American International Group Inc. now owns 85,117 shares of the communications equipment provider’s stock worth $871,000 after buying an additional 4,294 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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