Rosenblatt Securities restated their buy rating on shares of Infinera (NASDAQ:INFN) in a research report sent to investors on Monday. They currently have a $13.00 price target on the communications equipment provider’s stock.
“We view INFN as a highly focused company in a promising segment within broader challenged networking industry experiencing disruption. INFN has es- tablished itself as a global industry leader in two of the three markets in which it competes. The company has a successful, but inconsistent track record in both sales and product development of optical systems, often experiencing strong product cycles around customer wins and innovation cycles, including its current market position in 1Q18. While much of the broad telecom industry is experiencing flat to declining spending, optical transport is increasingly garner- ing increased wallet share among service providers (SPs) as well as hyperscale cloud builders.”,” Rosenblatt Securities’ analyst commented.
INFN has been the subject of a number of other research reports. ValuEngine upgraded Infinera from a sell rating to a hold rating in a research report on Thursday, February 8th. BidaskClub upgraded Infinera from a strong sell rating to a sell rating in a research report on Wednesday, February 7th. William Blair restated an outperform rating on shares of Infinera in a research report on Tuesday, February 6th. B. Riley boosted their target price on Infinera from $10.75 to $11.00 and gave the stock a buy rating in a research report on Thursday, February 8th. Finally, Zacks Investment Research cut Infinera from a hold rating to a sell rating in a research note on Tuesday, January 23rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Infinera has a consensus rating of Buy and a consensus target price of $11.58.
Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $195.82 million during the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative return on equity of 17.20% and a negative net margin of 26.26%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) earnings per share. equities analysts anticipate that Infinera will post -0.43 earnings per share for the current fiscal year.
In other Infinera news, insider David F. Welch sold 60,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $9.07, for a total value of $544,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David F. Welch sold 149,093 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total value of $1,495,402.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,093 shares of company stock valued at $2,770,803. 3.10% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of INFN. Bank of New York Mellon Corp grew its stake in Infinera by 34.0% in the fourth quarter. Bank of New York Mellon Corp now owns 11,998,458 shares of the communications equipment provider’s stock valued at $75,950,000 after acquiring an additional 3,043,892 shares during the period. Carillon Tower Advisers Inc. acquired a new position in Infinera in the fourth quarter valued at about $17,528,000. Dimensional Fund Advisors LP grew its stake in Infinera by 17.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,642,887 shares of the communications equipment provider’s stock valued at $41,182,000 after acquiring an additional 675,584 shares during the period. Neuberger Berman Group LLC grew its stake in Infinera by 10.2% in the third quarter. Neuberger Berman Group LLC now owns 4,491,345 shares of the communications equipment provider’s stock valued at $39,838,000 after acquiring an additional 416,885 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Infinera by 20.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,311,674 shares of the communications equipment provider’s stock valued at $14,633,000 after acquiring an additional 391,977 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.
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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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