Infinera Corporation (INFN) Rating Increased to Neutral at Citigroup Inc.
Infinera Corporation (NASDAQ:INFN) was upgraded by equities researchers at Citigroup Inc. from a “sell” rating to a “neutral” rating in a report released on Monday.
Several other equities analysts also recently weighed in on INFN. B. Riley reaffirmed a “buy” rating and set a $14.00 price target on shares of Infinera Corporation in a report on Friday, August 4th. BidaskClub downgraded shares of Infinera Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $13.00 price target (down previously from $14.50) on shares of Infinera Corporation in a report on Wednesday, August 9th. Finally, MKM Partners lowered their price target on shares of Infinera Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $11.82.
Shares of Infinera Corporation (INFN) opened at 8.59 on Monday. The company’s market cap is $1.27 billion. The company’s 50-day moving average is $8.56 and its 200-day moving average is $9.84. Infinera Corporation has a 12-month low of $7.23 and a 12-month high of $12.50.
Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $176.28 million during the quarter, compared to analysts’ expectations of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The business’s quarterly 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 EPS. Equities research analysts predict that Infinera Corporation will post ($0.56) earnings per share for the current year.
In other news, President David F. Welch sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President David F. Welch sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $12.00, for a total transaction of $60,000.00. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $426,200 in the last three months. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its position in Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 1,186 shares during the last quarter. Fred Alger Management Inc. bought a new stake in Infinera Corporation in the second quarter worth $107,000. AlphaOne Investment Services LLC bought a new stake in Infinera Corporation in the second quarter worth $108,000. Summit Securities Group LLC bought a new stake in Infinera Corporation in the second quarter worth $109,000. Finally, Karp Capital Management Corp bought a new stake in Infinera Corporation in the first quarter worth $106,000. 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.
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