ValuEngine upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note released on Thursday.

Other equities analysts have also recently issued reports about the company. William Blair reiterated a buy rating on shares of Infinera in a research report on Thursday, November 9th. Nomura lowered their price target on Infinera from $13.00 to $11.00 and set a buy rating on the stock in a research report on Thursday, November 9th. Craig Hallum reiterated a buy rating and set a $10.00 price target (down from $15.00) on shares of Infinera in a research report on Thursday, November 9th. B. Riley reiterated a buy rating and set a $12.00 price target (down from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded Infinera from a sell rating to a hold rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Infinera has a consensus rating of Hold and an average target price of $11.27.

Infinera (NASDAQ INFN) opened at $9.33 on Thursday. Infinera has a 1 year low of $6.10 and a 1 year high of $12.50.

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 the consensus estimate of ($0.13) by $0.01. Infinera had a negative return on equity of 16.77% and a negative net margin of 26.26%. The company had revenue of $195.82 million for the quarter, compared to analysts’ expectations of $190.26 million. During the same period last year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. analysts forecast that Infinera will post -0.48 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Infinera by 34.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,998,458 shares of the communications equipment provider’s stock worth $75,950,000 after acquiring an additional 3,043,892 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Infinera by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock worth $125,746,000 after acquiring an additional 369,519 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Infinera by 2.8% in the 2nd quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after acquiring an additional 268,912 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Infinera by 22.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,089,914 shares of the communications equipment provider’s stock worth $54,018,000 after acquiring an additional 1,126,763 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Infinera by 17.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,642,887 shares of the communications equipment provider’s stock worth $41,182,000 after acquiring an additional 675,584 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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About Infinera

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Infinera (NASDAQ:INFN)

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