Stifel Nicolaus reiterated their hold rating on shares of Infinera Corporation (NASDAQ:INFN) in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a $9.00 price target on the communications equipment provider’s stock, down from their previous price target of $10.00.

Several other brokerages also recently weighed in on INFN. Citigroup Inc. increased their target price on shares of Infinera Corporation from $8.50 to $10.00 and gave the stock a sell rating in a research note on Friday, July 21st. MKM Partners reiterated a buy rating and set a $14.00 target price on shares of Infinera Corporation in a research note on Friday, July 21st. B. Riley reiterated a buy rating and set a $14.00 target price on shares of Infinera Corporation in a research note on Friday, August 4th. Deutsche Bank AG reiterated a buy rating and set a $12.50 target price (up previously from $12.00) on shares of Infinera Corporation in a research note on Monday, July 17th. Finally, Craig Hallum assumed coverage on shares of Infinera Corporation in a research note on Tuesday, July 18th. They set a buy rating and a $15.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $10.96.

Shares of Infinera Corporation (NASDAQ INFN) traded down $0.01 on Thursday, hitting $6.35. 4,042,700 shares of the stock traded hands, compared to its average volume of 1,742,044. Infinera Corporation has a twelve month low of $6.28 and a twelve month high of $12.50.

Infinera Corporation (NASDAQ:INFN) last announced its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.12. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.35%. The business had revenue of $192.60 million during the quarter, compared to the consensus estimate of $190.37 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. research analysts expect that Infinera Corporation will post -0.85 EPS for the current fiscal year.

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In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Infinera Corporation by 33.4% in the second quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock valued at $83,151,000 after buying an additional 1,949,576 shares in the last quarter. Vanguard Group Inc. increased its holdings in Infinera Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,415,540 shares of the communications equipment provider’s stock valued at $116,781,000 after buying an additional 498,787 shares in the last quarter. Teachers Advisors LLC increased its holdings in Infinera Corporation by 510.1% in the first quarter. Teachers Advisors LLC now owns 1,416,917 shares of the communications equipment provider’s stock valued at $14,495,000 after buying an additional 1,184,678 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in Infinera Corporation by 8.6% in the second quarter. Eagle Asset Management Inc. now owns 4,353,295 shares of the communications equipment provider’s stock valued at $46,449,000 after buying an additional 346,427 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Infinera Corporation by 1.3% in the second quarter. Northern Trust Corp now owns 1,874,770 shares of the communications equipment provider’s stock valued at $20,004,000 after buying an additional 24,773 shares in the last quarter. 89.35% of the stock is owned by institutional investors.

About Infinera Corporation

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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