Infinera Co. (NASDAQ:INFN – Get Free Report) has received an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $7.09.
INFN has been the topic of several recent analyst reports. B. Riley reduced their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th.
View Our Latest Analysis on INFN
Infinera Stock Down 0.2 %
Infinera (NASDAQ:INFN – Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $342.70 million for the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business’s revenue was down 8.9% compared to the same quarter last year. Equities analysts anticipate that Infinera will post -0.17 EPS for the current fiscal year.
Institutional Investors Weigh In On Infinera
Large investors have recently made changes to their positions in the business. SageView Advisory Group LLC acquired a new stake in shares of Infinera in the first quarter worth $39,000. Partners Capital Investment Group LLP acquired a new stake in Infinera during the 4th quarter valued at $48,000. Worth Venture Partners LLC acquired a new stake in Infinera during the 4th quarter valued at $53,000. Ironwood Investment Counsel LLC acquired a new stake in Infinera during the 4th quarter valued at $56,000. Finally, RPO LLC acquired a new stake in Infinera during the 4th quarter valued at $82,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
About Infinera
Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.
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