Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms. It also offers Infinera XTM series, a packet-optical transport platform that enables metro connectivity solutions; Infinera XTC series, a multi-terabit packet optical transport platforms that integrates digital OTN switching and optical WDM transmission; Infinera mTera series, a network transport solution; and Infinera XT series, a platform that is designed to power cloud scale network services over metro, DCI, long-haul, and subsea networks. The company provides Infinera Cloud Xpress Family that is designed to meet the needs of internet content providers (ICPs), communication service providers, internet exchange service providers, enterprises, and other large-scale data center operators; and ICE-XR Coherent Pluggable Optics. It also offers Infinera Transcend software suite; and system software and customer support services. The company also serves telecommunications service providers, ICPs, cable providers, wholesale carriers, research and education institutions, large enterprises, and government entities. It markets and sells its products and related support services primarily through its direct sales force. The company was formerly known as Zepton Networks. The company was incorporated in 2000 and is headquartered in San Jose, California.
Infinera Trading Down 0.4 %
Shares of Infinera stock traded down $0.02 during trading hours on Thursday, hitting $5.40. The company's stock had a trading volume of 49,115 shares, compared to its average volume of 4,502,088. Infinera has a 12 month low of $4.67 and a 12 month high of $9.86. The stock has a 50 day moving average of $5.57 and a 200 day moving average of $6.99. The company has a market capitalization of $1.17 billion, a PE ratio of -6.23 and a beta of 1.10. The company has a debt-to-equity ratio of 5.49, a current ratio of 1.67 and a quick ratio of 1.11.
Infinera (NASDAQ:INFN - Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Infinera had a negative return on equity of 33.09% and a negative net margin of 12.69%. The company had revenue of $357.99 million during the quarter, compared to the consensus estimate of $350.62 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that Infinera will post -0.24 earnings per share for the current year.
Wall Street Analyst Weigh In
INFN has been the topic of several research reports. Citigroup cut their price target on Infinera from $9.00 to $6.50 in a research note on Thursday, July 14th. JPMorgan Chase & Co. dropped their price objective on Infinera from $7.50 to $6.50 and set an "underweight" rating for the company in a report on Thursday, July 14th. B. Riley dropped their price objective on Infinera from $12.50 to $11.00 in a report on Wednesday, May 4th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Infinera in a report on Monday, May 16th. Finally, MKM Partners reiterated a "buy" rating and issued a $9.00 price objective on shares of Infinera in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Infinera currently has an average rating of "Hold" and a consensus target price of $9.86.
Insiders Place Their Bets
In other Infinera news, CEO David W. Heard purchased 6,500 shares of the stock in a transaction on Thursday, May 19th. The stock was bought at an average cost of $5.72 per share, for a total transaction of $37,180.00. Following the completion of the acquisition, the chief executive officer now directly owns 608,740 shares of the company's stock, valued at $3,481,992.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO David W. Heard acquired 6,500 shares of Infinera stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $5.72 per share, with a total value of $37,180.00. Following the completion of the transaction, the chief executive officer now directly owns 608,740 shares of the company's stock, valued at $3,481,992.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Andrew Riedel acquired 10,000 shares of Infinera stock in a transaction dated Friday, June 10th. The shares were purchased at an average cost of $5.28 per share, with a total value of $52,800.00. Following the completion of the transaction, the director now directly owns 82,451 shares of the company's stock, valued at $435,341.28. The disclosure for this purchase can be found here. Corporate insiders own 2.82% of the company's stock.
