Infinera (NASDAQ:INFN) had its price objective decreased by Needham & Company LLC from $14.00 to $9.00 in a report issued on Wednesday, Marketbeat.com reports. Needham & Company LLC currently has a strong-buy rating on the communications equipment provider’s stock.

Several other research firms have also issued reports on INFN. Raymond James lowered Infinera from a market perform rating to an underperform rating in a research report on Tuesday, July 24th. ValuEngine upgraded Infinera from a sell rating to a hold rating in a report on Thursday, November 1st. BidaskClub upgraded Infinera from a sell rating to a hold rating in a report on Friday, August 24th. Morgan Stanley set a $10.00 target price on Infinera and gave the stock a buy rating in a report on Wednesday, September 26th. Finally, MKM Partners lowered Infinera from a neutral rating to a sell rating and reduced their target price for the stock from $10.00 to $5.50 in a report on Monday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $9.40.

Shares of NASDAQ:INFN traded up $0.26 during midday trading on Wednesday, hitting $4.70. The company had a trading volume of 8,286,403 shares, compared to its average volume of 4,066,045. Infinera has a 12 month low of $4.11 and a 12 month high of $12.39.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Infinera had a negative return on equity of 11.78% and a negative net margin of 19.18%. The business had revenue of $200.41 million for the quarter, compared to analyst estimates of $210.57 million. During the same period last year, the company earned ($0.11) EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Analysts forecast that Infinera will post -0.62 EPS for the current fiscal year.

In other news, CEO Thomas J. Fallon purchased 50,000 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were bought at an average cost of $4.63 per share, for a total transaction of $231,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David W. Heard purchased 20,000 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $4.74 per share, for a total transaction of $94,800.00. Following the completion of the acquisition, the chief operating officer now owns 44,532 shares of the company’s stock, valued at $211,081.68. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Infinera by 100.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock valued at $155,000 after purchasing an additional 7,800 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock valued at $753,000 after purchasing an additional 12,098 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in shares of Infinera by 4.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 324,744 shares of the communications equipment provider’s stock valued at $3,224,000 after purchasing an additional 13,712 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Infinera by 48.6% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 56,473 shares of the communications equipment provider’s stock valued at $412,000 after purchasing an additional 18,457 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Infinera by 11.9% in the third quarter. Congress Asset Management Co. MA now owns 187,484 shares of the communications equipment provider’s stock valued at $1,369,000 after purchasing an additional 19,965 shares in the last quarter. Institutional investors own 82.94% 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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