Infinera (NASDAQ:INFN) Price Target Raised to $11.00 at B. Riley

Infinera (NASDAQ:INFN) had its target price boosted by equities researchers at B. Riley from $10.75 to $11.00 in a research report issued on Thursday, February 8th. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s target price suggests a potential upside of 15.06% from the company’s previous close.

INFN has been the subject of several other reports. BidaskClub raised Infinera from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Nomura reduced their price objective on Infinera from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. William Blair reissued an “outperform” rating on shares of Infinera in a research note on Tuesday, February 6th. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, ValuEngine lowered Infinera from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Infinera has an average rating of “Buy” and an average price target of $11.27.

Shares of Infinera (NASDAQ INFN) traded up $0.12 during midday trading on Thursday, reaching $9.56. The company’s stock had a trading volume of 1,949,600 shares, compared to its average volume of 1,953,903. The company has a market cap of $1,430.00, a price-to-earnings ratio of -7.30 and a beta of 1.24. Infinera has a 52-week low of $6.10 and a 52-week high of $12.38.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $195.82 million during the quarter, compared to analyst estimates of $190.26 million. Infinera had a negative return on equity of 16.77% and a negative net margin of 26.26%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. equities research analysts forecast that Infinera will post -0.43 EPS for the current fiscal year.

In related news, insider David F. Welch sold 60,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $9.07, for a total transaction of $544,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Welch sold 80,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total value of $731,200.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its holdings in shares of Infinera by 2,170.9% during the fourth quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 15,196 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Infinera during the fourth quarter worth $621,000. Guggenheim Capital LLC raised its holdings in shares of Infinera by 10.4% during the fourth quarter. Guggenheim Capital LLC now owns 1,092,262 shares of the communications equipment provider’s stock worth $6,914,000 after acquiring an additional 102,584 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Infinera by 93.5% during the fourth quarter. Deutsche Bank AG now owns 709,383 shares of the communications equipment provider’s stock worth $4,488,000 after acquiring an additional 342,690 shares in the last quarter. Finally, Divisar Capital Management LLC raised its holdings in shares of Infinera by 8.3% during the fourth quarter. Divisar Capital Management LLC now owns 1,954,254 shares of the communications equipment provider’s stock worth $12,370,000 after acquiring an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 88.49% 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.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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