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

INFN has been the topic of a number of other reports. William Blair reissued a buy rating on shares of Infinera in a research note on Thursday, November 9th. Craig Hallum reissued a buy rating and issued a $10.00 price objective (down from $15.00) on shares of Infinera in a research note on Thursday, November 9th. Zacks Investment Research raised shares of Infinera from a sell rating to a hold rating in a research note on Tuesday, October 10th. MKM Partners cut shares of Infinera from a buy rating to a neutral rating and set a $13.00 price objective on the stock. in a research note on Thursday, November 9th. Finally, ValuEngine cut shares of Infinera from a hold rating to a sell rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Infinera has an average rating of Hold and an average price target of $11.00.

Infinera (INFN) opened at $6.90 on Wednesday. Infinera has a one year low of $6.10 and a one year high of $12.50.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $195.82 million for the quarter, compared to analysts’ expectations of $190.26 million. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. equities research analysts expect that Infinera will post -0.85 earnings per share for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $6.33 per share, for a total transaction of $633,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of INFN. Prudential Financial Inc. lifted its holdings in shares of Infinera by 4.9% during the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 710 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Infinera by 18.4% during the second quarter. Ameriprise Financial Inc. now owns 281,027 shares of the communications equipment provider’s stock worth $3,014,000 after purchasing an additional 43,635 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Infinera by 6.6% during the second quarter. Nationwide Fund Advisors now owns 94,256 shares of the communications equipment provider’s stock worth $1,006,000 after purchasing an additional 5,802 shares during the period. BlackRock Inc. lifted its holdings in shares of Infinera by 2.8% during the second quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after purchasing an additional 268,912 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Infinera by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares during the period. Institutional investors own 88.38% of the company’s stock.

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About Infinera

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 (NASDAQ:INFN)

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