Craig Hallum Reaffirms “Buy” Rating for Infinera Corporation (INFN)

Craig Hallum reiterated their buy rating on shares of Infinera Corporation (NASDAQ:INFN) in a report released on Thursday morning, The Fly reports. They currently have a $10.00 price objective on the communications equipment provider’s stock, down from their previous price objective of $15.00.

INFN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Infinera Corporation from a sell rating to a hold rating in a report on Tuesday, August 8th. Needham & Company LLC restated a strong-buy rating and issued a $13.00 price target on shares of Infinera Corporation in a report on Thursday, August 31st. B. Riley restated a buy rating and issued a $14.00 price target on shares of Infinera Corporation in a report on Wednesday, August 9th. BidaskClub cut shares of Infinera Corporation from a sell rating to a strong sell rating in a report on Wednesday, August 9th. Finally, Stifel Nicolaus restated a hold rating and issued a $10.00 price target on shares of Infinera Corporation in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $10.96.

Infinera Corporation (NASDAQ:INFN) traded down $0.01 during mid-day trading on Thursday, reaching $6.35. 4,042,700 shares of the company’s stock were exchanged, compared to its average volume of 1,742,044. Infinera Corporation has a fifty-two week low of $6.28 and a fifty-two week high of $12.50.

Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.12. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.35%. The business had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $190.37 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. equities research analysts expect that Infinera Corporation will post -0.85 EPS for the current fiscal year.

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In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its position in shares of Infinera Corporation by 3.6% during the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 409 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Infinera Corporation by 4.9% during the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 710 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Infinera Corporation by 1.8% during the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after buying an additional 972 shares during the last quarter. Amalgamated Bank lifted its position in shares of Infinera Corporation by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 992 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 1,186 shares during the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

About Infinera Corporation

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.

The Fly

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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