Infinera Corp. (NASDAQ:INFN) fell 6.3% during mid-day trading on Monday . The stock traded as low as $4.59 and last traded at $4.59. 2,690,924 shares were traded during trading, an increase of 24% from the average session volume of 2,178,882 shares. The stock had previously closed at $4.90.

Several brokerages have issued reports on INFN. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Morgan Stanley lowered Infinera from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $9.50 to $6.00 in a research note on Tuesday, November 13th. ValuEngine raised Infinera from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Jefferies Financial Group raised Infinera from an “underperform” rating to a “hold” rating in a research note on Friday, November 9th. Finally, Rosenblatt Securities lowered Infinera to a “hold” rating in a research note on Thursday, November 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.13.

The firm has a market capitalization of $857.43 million, a P/E ratio of -5.53 and a beta of 0.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.92 and a quick ratio of 2.95.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $200.41 million for the quarter, compared to the consensus estimate of $210.57 million. Infinera had a negative return on equity of 11.58% and a negative net margin of 19.18%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) earnings per share. As a group, analysts expect that Infinera Corp. will post -0.69 earnings per share for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon purchased 50,000 shares of Infinera stock in a transaction that occurred on Friday, November 9th. The shares were bought at an average price of $4.63 per share, for a total transaction of $231,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David W. Heard purchased 20,000 shares of Infinera stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average price of $4.74 per share, for a total transaction of $94,800.00. Following the acquisition, the chief operating officer now owns 44,532 shares in the company, valued at $211,081.68. The disclosure for this purchase can be found here. In the last quarter, insiders bought 110,000 shares of company stock worth $506,300. Company insiders own 3.00% of the company’s stock.

A number of large investors have recently made changes to their positions in INFN. Legal & General Group Plc increased its holdings in Infinera by 21.1% during the 1st quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock valued at $753,000 after purchasing an additional 12,098 shares during the period. Royal Bank of Canada increased its holdings in Infinera by 1,721.2% during the 1st quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock valued at $2,029,000 after purchasing an additional 176,576 shares during the period. Victory Capital Management Inc. increased its holdings in Infinera by 5.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,448,025 shares of the communications equipment provider’s stock valued at $24,309,000 after purchasing an additional 123,169 shares during the period. Princeton Capital Management LLC increased its holdings in Infinera by 40.7% during the 2nd quarter. Princeton Capital Management LLC now owns 101,192 shares of the communications equipment provider’s stock valued at $1,005,000 after purchasing an additional 29,286 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Infinera by 100.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock valued at $155,000 after purchasing an additional 7,800 shares during the period. Institutional investors own 80.64% of the company’s stock.

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Infinera Company Profile (NASDAQ:INFN)

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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