Northland Securities upgraded shares of Infinera (NASDAQ:INFN) from a market perform rating to an outperform rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $11.00 price objective on the communications equipment provider’s stock.

Several other research analysts have also recently weighed in on INFN. Citigroup raised shares of Infinera from a sell rating to a neutral rating and set a $10.00 price target on the stock in a research report on Monday, October 16th. Zacks Investment Research raised shares of Infinera from a sell rating to a hold rating in a research report on Wednesday, November 1st. ValuEngine cut shares of Infinera from a hold rating to a sell rating in a research report on Thursday, November 2nd. B. Riley restated a buy rating and set a $12.00 target price (down from $14.00) on shares of Infinera in a research note on Tuesday, November 7th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $9.00 price target (down from $10.00) on shares of Infinera in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $11.27.

Infinera (NASDAQ:INFN) traded up $0.26 on Thursday, hitting $9.22. 4,650,026 shares of the company traded hands, compared to its average volume of 1,727,257. Infinera has a 1 year low of $6.10 and a 1 year high of $12.50. The firm has a market cap of $1,030.36, a PE ratio of -6.79 and a beta of 1.24.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $195.82 million during the quarter, compared to analysts’ expectations of $190.26 million. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. sell-side analysts forecast that Infinera will post -0.49 earnings per share for the current year.

In other news, CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $6.33 per share, for a total transaction of $633,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in INFN. Prudential Financial Inc. increased its position in shares of Infinera by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 710 shares in the last quarter. Aperio Group LLC increased its position in Infinera by 87.6% during the 3rd quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 8,847 shares in the last quarter. Amalgamated Bank increased its position in Infinera by 5.7% during the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares in the last quarter. Gainplan LLC purchased a new stake in Infinera during the 3rd quarter worth about $302,000. Finally, Teacher Retirement System of Texas increased its position in Infinera by 318.7% during the 4th quarter. Teacher Retirement System of Texas now owns 50,502 shares of the communications equipment provider’s stock worth $320,000 after purchasing an additional 38,439 shares in the last quarter. Institutional investors and hedge funds 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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