BidaskClub cut shares of Infinera (NASDAQ:INFN) from a sell rating to a strong sell rating in a research report sent to investors on Friday.

Several other research firms have also issued reports on INFN. Jefferies Financial Group lowered Infinera from a hold rating to an underperform rating and reduced their target price for the company from $12.39 to $6.10 in a report on Tuesday, May 29th. Goldman Sachs Group lowered Infinera from a buy rating to a neutral rating and set a $10.00 target price for the company. in a report on Wednesday, June 20th. ValuEngine raised Infinera from a sell rating to a hold rating in a report on Monday, July 2nd. William Blair lowered Infinera to an outperform rating in a report on Wednesday, May 30th. Finally, MKM Partners reduced their target price on Infinera to $10.00 and set a neutral rating for the company in a report on Tuesday, July 24th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $10.97.

INFN stock opened at $7.03 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of -8.57 and a beta of 0.14. Infinera has a 12-month low of $6.10 and a 12-month high of $12.39.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $208.23 million during the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same period in the prior year, the company posted ($0.15) earnings per share. analysts anticipate that Infinera will post -0.38 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Infinera by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after purchasing an additional 1,265,072 shares during the last quarter. BlackRock Inc. lifted its position in shares of Infinera by 12.5% during the second quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock worth $108,849,000 after acquiring an additional 1,222,230 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Infinera by 0.6% during the second quarter. Fisher Asset Management LLC now owns 5,966,448 shares of the communications equipment provider’s stock worth $59,247,000 after acquiring an additional 37,172 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Infinera by 1.4% during the first quarter. Eagle Asset Management Inc. now owns 3,972,245 shares of the communications equipment provider’s stock worth $43,138,000 after acquiring an additional 55,936 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Infinera by 5.3% during the second quarter. Victory Capital Management Inc. now owns 2,448,025 shares of the communications equipment provider’s stock worth $24,309,000 after acquiring an additional 123,169 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Infinera Company Profile

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.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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