Zacks Investment Research Upgrades Infinera (INFN) to “Hold”

Zacks Investment Research upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a report issued on Wednesday.

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. “

Several other equities analysts have also recently issued reports on INFN. Needham & Company LLC reiterated a buy rating and set a $13.00 price target on shares of Infinera in a research report on Tuesday, September 19th. Citigroup upgraded 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. ValuEngine cut shares of Infinera from a hold rating to a sell rating in a research report on Thursday, November 2nd. B. Riley reiterated a buy rating and set a $12.00 price target (down previously from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus reiterated a hold rating and set a $9.00 price target (down previously from $10.00) on shares of Infinera in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $10.96.

Infinera (NASDAQ:INFN) opened at $7.08 on Wednesday. Infinera has a 52-week low of $6.27 and a 52-week high of $12.50. The stock has a market cap of $1,060.00, a PE ratio of -6.62 and a beta of 1.43.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.12. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. The company had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $190.37 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Infinera’s quarterly revenue was up 3.8% on a year-over-year basis. analysts expect that Infinera will post -0.85 earnings per share for the current fiscal year.

In other Infinera news, CEO Thomas J. Fallon acquired 100,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $6.33 per share, for a total transaction of $633,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fred Alger Management Inc. purchased a new stake in shares of Infinera during the second quarter valued at approximately $107,000. AlphaOne Investment Services LLC purchased a new stake in shares of Infinera during the second quarter valued at approximately $108,000. Prudential Financial Inc. grew its holdings in shares of Infinera by 4.9% during 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 during the last quarter. Aperio Group LLC grew its holdings in shares of Infinera by 87.6% during the third quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 8,847 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Infinera by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 992 shares during the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.

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Infinera Company Profile

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.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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