Infinera Corporation (NASDAQ:INFN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

A number of other brokerages have also recently issued reports on INFN. BidaskClub raised Infinera Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Craig Hallum assumed coverage on Infinera Corporation in a report on Tuesday, July 18th. They issued a “buy” rating and a $15.00 price target for the company. Deutsche Bank AG cut their price target on Infinera Corporation from $12.50 to $12.00 and set a “buy” rating for the company in a report on Monday, August 7th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Infinera Corporation in a report on Monday, July 10th. Finally, Needham & Company LLC lifted their price target on Infinera Corporation from $13.50 to $14.50 and gave the company a “strong-buy” rating in a report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.82.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The firm’s revenue was down 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share.

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In other news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David F. Welch sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock valued at $426,200 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of INFN. BlackRock Inc. grew its position in shares of Infinera Corporation by 49,116.0% during the 1st quarter. BlackRock Inc. now owns 9,575,465 shares of the communications equipment provider’s stock worth $97,957,000 after buying an additional 9,556,009 shares during the period. Bank of New York Mellon Corp grew its position in shares of Infinera Corporation by 33.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock worth $83,151,000 after buying an additional 1,949,576 shares during the period. Teachers Advisors LLC grew its position in shares of Infinera Corporation by 510.1% during the 1st quarter. Teachers Advisors LLC now owns 1,416,917 shares of the communications equipment provider’s stock worth $14,495,000 after buying an additional 1,184,678 shares during the period. Jennison Associates LLC grew its position in shares of Infinera Corporation by 55.7% during the 2nd quarter. Jennison Associates LLC now owns 2,931,573 shares of the communications equipment provider’s stock worth $31,280,000 after buying an additional 1,048,424 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in shares of Infinera Corporation during the 2nd quarter worth about $11,087,000. Institutional investors own 86.67% of the company’s stock.

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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