Infinera Co. (NASDAQ:INFN) has earned an average recommendation of "Hold" from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.
INFN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Infinera in a research note on Monday, May 24th. Zacks Investment Research upgraded shares of Infinera from a "sell" rating to a "hold" rating in a research note on Tuesday, August 31st.
In other news, Director Christine Bucklin sold 23,000 shares of Infinera stock in a transaction on Friday, August 6th. The shares were sold at an average price of $9.96, for a total value of $229,080.00. Following the transaction, the director now directly owns 20,392 shares of the company's stock, valued at approximately $203,104.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nicholas Walden sold 3,000 shares of Infinera stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $8.66, for a total transaction of $25,980.00. Following the completion of the transaction, the senior vice president now directly owns 24,497 shares in the company, valued at $212,144.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,447 shares of company stock worth $258,855. 2.03% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in shares of Infinera by 1.0% during the 2nd quarter. FMR LLC now owns 30,749,488 shares of the communications equipment provider's stock worth $313,645,000 after purchasing an additional 293,970 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Infinera by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,228,764 shares of the communications equipment provider's stock worth $175,733,000 after purchasing an additional 136,442 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Infinera by 111.6% in the 1st quarter. Brown Advisory Inc. now owns 6,372,878 shares of the communications equipment provider's stock worth $61,371,000 after buying an additional 3,360,417 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Infinera by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,688,083 shares of the communications equipment provider's stock worth $37,619,000 after buying an additional 230,953 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Infinera by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,304,208 shares of the communications equipment provider's stock worth $33,702,000 after buying an additional 236,514 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.
Shares of NASDAQ INFN traded down $0.10 during midday trading on Friday, hitting $8.37. The company's stock had a trading volume of 2,014,247 shares, compared to its average volume of 2,236,576. The business's fifty day simple moving average is $9.06 and its two-hundred day simple moving average is $9.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.78 and a quick ratio of 1.24. Infinera has a 1 year low of $5.78 and a 1 year high of $11.51. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -12.88 and a beta of 1.20.
Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Monday, August 2nd. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Infinera had a negative net margin of 9.52% and a negative return on equity of 6.34%. The company had revenue of $338.23 million during the quarter, compared to the consensus estimate of $344.17 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Analysts anticipate that Infinera will post -0.3 EPS for the current fiscal year.
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.
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