Brokerages Set Infinera Corp. (INFN) PT at $10.73

Share on StockTwits

Infinera Corp. (NASDAQ:INFN) has earned a consensus rating of “Hold” from the twenty ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.73.

A number of research firms recently issued reports on INFN. MKM Partners lowered their target price on shares of Infinera to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 24th. Zacks Investment Research lowered shares of Infinera from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Morgan Stanley began coverage on shares of Infinera in a research note on Tuesday, September 25th. They issued an “overweight” rating and a $9.50 target price on the stock. BidaskClub lowered shares of Infinera from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Stifel Nicolaus began coverage on shares of Infinera in a research note on Monday, October 22nd. They issued a “hold” rating and a $8.00 target price on the stock.

Shares of INFN opened at $5.42 on Friday. Infinera has a 12 month low of $5.24 and a 12 month high of $12.39. The firm has a market cap of $820.03 million, a PE ratio of -6.53 and a beta of 0.07.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. The company had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. During the same quarter in the prior year, the business posted ($0.15) EPS. Research analysts forecast that Infinera will post -0.56 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of INFN. Millennium Management LLC grew its position in Infinera by 1,021.4% in the 1st quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock worth $11,945,000 after purchasing an additional 1,001,790 shares during the last quarter. Legal & General Group Plc grew its position in Infinera by 21.1% in the 1st quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock worth $753,000 after purchasing an additional 12,098 shares during the last quarter. Royal Bank of Canada grew its position in Infinera by 1,721.2% in the 1st quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock worth $2,029,000 after purchasing an additional 176,576 shares during the last quarter. Fisher Asset Management LLC grew its position in Infinera by 0.6% in the 2nd quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock worth $59,247,000 after purchasing an additional 37,172 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Infinera in the 2nd quarter worth $242,000. Institutional investors own 82.94% of the company’s stock.

About Infinera

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.

Read More: Return on Investment (ROI)

Analyst Recommendations for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply