ValuEngine upgraded shares of Infinera (NASDAQ: INFN) from a sell rating to a hold rating in a research report published on Wednesday, August 15th.
Several other research agencies have also recently commented on INFN. Raymond James relegated Infinera from a market performance to an underperform rating in a research report on Tuesday, July 24. BidaskClub increased Infinera from a buy rating to a strong buy-rating in a study letter on Friday, May 4. Drexel Hamilton set a target price of $ 13.00 on Infinera and gave the shares a buy-rating in a study letter on Thursday 10 May. William Blair lowered Infinera to a superlative evaluation in a study letter on Wednesday, May 30th. Finally, B. Riley lowered their target price on Infinera from $ 12.00 to $ 10.00 and set a neutral rating for the company in a research note on Thursday, August 2. Two research analysts have rated the shares with a sell rating, eleven have issued a hold rating, six have a buy rating and one has given a strong buy-rating to the company. Infinera currently has an average Hold rating and an average target price of $ 10.97.
NASDAQ: INFN opened Wednesday at $ 8.95. The company has a market capitalization of $ 1.38 billion, a PE ratio of -10.78 and a beta of 0.25. Infinera has a fifty-two week low of $ 6.10 and a fifty-two weeks high of $ 12.39.
Infinera (NASDAQ: INFN) last released the quarterly results on Tuesday 7 August. The communications equipment provider reported ($ 0.01) earnings per share for the quarter, on top of the consensus estimate of ($ 0.04) with $ 0.03. The company had sales of $ 208.23 million during the quarter compared to the consensus estimate of $ 208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. In the same period of the previous year the company earned ($ 0.15) EPS. sellside analysts expect Infinera to have earnings per share of -0.38 for the current year.
Major investors have recently increased or reduced their holdings in the company. Bank of New York Mellon Corp increased its position in Infinera by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 13,804,996 shares in the share of the communications equipment provider worth $ 137,084,000 after the purchase of 1,265,072 additional shares during the last quarter. Princeton Capital Management LLC increased its position in Infinera by 40.7% in the second quarter. Princeton Capital Management LLC now owns 101,192 shares in the share of communication equipment provider worth $ 1,005,000 after buying another 29,286 shares during the last quarter. Legal & General Group Plc increased its position in Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares in the share of communication equipment provider worth $ 753,000 after buying 12 additional extra in the last quarter. Comerica Bank acquired a new position in Infinera shares worth $ 876,000 in the first quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Infinera shares in the fourth quarter worth $ 422,000. 83.13% of the shares are held by institutional investors and hedge funds.
Infinera Corporation offers optical solutions for transport networks, equipment and software and services worldwide. The product portfolio of the company 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 package 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 submarine applications.
Recommended story: Hedge Funds – How they work for investors
To view the full ValuEngine report, visit the official website of ValuEngine.
Receive news and ratings for Infinera Daily – Enter your e-mail address below to receive a concise, daily summary of the latest news and analyst ratings for Infinera and related companies with the FREE daily e-mail newsletter from MarketBeat.com.