Zacks Investment Research upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note issued to investors 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. “

Other analysts have also issued research reports about the company. MKM Partners lowered Infinera from a neutral rating to a sell rating and dropped their price objective for the company from $10.00 to $5.50 in a research note on Monday, October 1st. Morgan Stanley set a $10.00 price objective on Infinera and gave the company a buy rating in a research note on Wednesday, September 26th. ValuEngine lowered Infinera from a hold rating to a sell rating in a research note on Friday, September 7th. BidaskClub raised Infinera from a sell rating to a hold rating in a research note on Friday, August 24th. Finally, Stifel Nicolaus began coverage on Infinera in a research note on Monday, October 22nd. They set a hold rating and a $8.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Infinera has a consensus rating of Hold and a consensus target price of $9.40.

Shares of INFN opened at $4.70 on Tuesday. Infinera has a 1 year low of $4.11 and a 1 year high of $12.39.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $200.41 million during the quarter, compared to analyst estimates of $210.57 million. Infinera had a negative return on equity of 11.78% and a negative net margin of 19.18%. Infinera’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that Infinera will post -0.62 EPS for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was bought at an average price of $4.63 per share, with a total value of $231,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David W. Heard purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average cost of $4.74 per share, with a total value of $94,800.00. Following the purchase, the chief operating officer now directly owns 44,532 shares of the company’s stock, valued at $211,081.68. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Infinera by 100.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after acquiring an additional 7,800 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Infinera in the third quarter worth $165,000. Cim Investment Mangement Inc. purchased a new stake in Infinera in the third quarter worth $197,000. Campbell & CO Investment Adviser LLC purchased a new stake in Infinera in the second quarter worth $242,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Infinera by 48.6% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 56,473 shares of the communications equipment provider’s stock worth $412,000 after acquiring an additional 18,457 shares during the period. 82.94% of the stock is owned by institutional investors.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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