Equities researchers at Rosenblatt Securities began coverage on shares of Infinera (NASDAQ:INFN – Get Rating) in a research note issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the communications equipment provider’s stock.
A number of other research firms have also commented on INFN. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, February 24th. B. Riley upped their price target on shares of Infinera from $11.50 to $12.50 in a research report on Thursday, February 17th. Finally, Loop Capital assumed coverage on shares of Infinera in a research report on Monday, February 14th. They issued a “hold” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.21.
Shares of INFN traded down $0.27 during trading hours on Wednesday, hitting $8.22. The stock had a trading volume of 1,714,086 shares, compared to its average volume of 2,227,857. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -9.90 and a beta of 1.03. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.62 and a quick ratio of 1.14. The company’s fifty day moving average is $8.48 and its two-hundred day moving average is $8.52. Infinera has a 52 week low of $7.22 and a 52 week high of $10.89.
Infinera (NASDAQ:INFN – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The communications equipment provider reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Infinera had a negative net margin of 11.98% and a negative return on equity of 16.77%. The firm had revenue of $400.26 million for the quarter, compared to analysts’ expectations of $386.17 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts predict that Infinera will post -0.08 EPS for the current fiscal year.
In other news, Director David F. Welch sold 200,000 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $9.14, for a total value of $1,828,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nicholas Walden sold 4,882 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $9.08, for a total transaction of $44,328.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,882 shares of company stock valued at $3,229,829. 2.82% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Shapiro Capital Management LLC bought a new position in Infinera during the 3rd quarter worth about $87,428,000. Geode Capital Management LLC grew its holdings in shares of Infinera by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,401,332 shares of the communications equipment provider’s stock worth $32,618,000 after buying an additional 54,552 shares in the last quarter. Victory Capital Management Inc. raised its position in Infinera by 6.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,959,397 shares of the communications equipment provider’s stock valued at $28,380,000 after buying an additional 189,327 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its stake in Infinera by 15.4% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 2,144,000 shares of the communications equipment provider’s stock valued at $20,560,000 after acquiring an additional 286,600 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Infinera during the 4th quarter worth approximately $15,747,000. Institutional investors own 91.65% of the company’s stock.
Infinera Company Profile
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.