Zacks Investment Research lowered shares of Infinera Corporation (NASDAQ:INFN) from a hold rating to a sell rating in a research note released on Wednesday morning.

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 several other reports. Deutsche Bank AG increased their price objective on shares of Infinera Corporation from $12.00 to $13.00 and gave the company a buy rating in a research report on Monday, March 20th. ValuEngine raised shares of Infinera Corporation from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) raised shares of Infinera Corporation from a neutral rating to a buy rating and increased their price objective for the company from $10.00 to $13.50 in a research report on Thursday, March 16th. Wells Fargo & Company raised shares of Infinera Corporation from a market perform rating to an outperform rating and increased their price objective for the company from $10.00 to $13.00 in a research report on Friday, May 26th. Finally, Northland Securities set a $7.00 price objective on shares of Infinera Corporation and gave the company a hold rating in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Infinera Corporation presently has a consensus rating of Hold and a consensus price target of $11.04.

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

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

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

Several large investors have recently modified their holdings of the company. Bbva Compass Bancshares Inc. purchased a new stake in shares of Infinera Corporation during the first quarter worth approximately $103,000. First National Bank of Omaha purchased a new stake in shares of Infinera Corporation during the first quarter worth approximately $104,000. Karp Capital Management Corp purchased a new stake in shares of Infinera Corporation during the first quarter worth approximately $106,000. Parametrica Management Ltd purchased a new stake in shares of Infinera Corporation during the first quarter worth approximately $154,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Infinera Corporation by 55.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,571 shares of the communications equipment provider’s stock worth $132,000 after buying an additional 5,538 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.

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Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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