Infinera Corp. (INFN) Receives $8.46 Consensus Target Price from Analysts

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Shares of Infinera Corp. (NASDAQ:INFN) have been given an average recommendation of “Hold” by the nineteen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.46.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Zacks Investment Research lowered shares of Infinera from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Morgan Stanley began coverage on shares of Infinera in a research note on Tuesday, September 25th. They issued an “overweight” rating and a $9.50 price target for the company. Northland Securities set a $7.00 price target on shares of Infinera and gave the stock a “hold” rating in a research note on Thursday, December 20th. Finally, Stifel Nicolaus began coverage on shares of Infinera in a research note on Monday, October 22nd. They issued a “hold” rating and a $8.00 price target for the company.

Shares of INFN traded down $0.08 during mid-day trading on Friday, reaching $4.22. 177,537 shares of the stock traded hands, compared to its average volume of 2,450,750. The firm has a market capitalization of $757.69 million, a P/E ratio of -5.08 and a beta of 0.53. Infinera has a 12-month low of $3.54 and a 12-month high of $12.39. The company has a quick ratio of 2.95, a current ratio of 3.92 and a debt-to-equity ratio of 0.37.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $200.41 million for the quarter, compared to analyst estimates of $210.57 million. Infinera had a negative net margin of 19.18% and a negative return on equity of 11.58%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. Equities analysts expect that Infinera will post -0.69 earnings per share for the current fiscal year.

In other Infinera news, COO David W. Heard acquired 20,000 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was purchased at an average price of $4.74 per share, with a total value of $94,800.00. Following the completion of the acquisition, the chief operating officer now directly owns 44,532 shares in the company, valued at approximately $211,081.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert J. Jandro acquired 40,000 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was acquired at an average cost of $4.24 per share, with a total value of $169,600.00. Following the acquisition, the vice president now owns 179,061 shares of the company’s stock, valued at $759,218.64. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 150,000 shares of company stock valued at $675,900. 3.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in INFN. Alambic Investment Management L.P. acquired a new position in shares of Infinera during the third quarter valued at $370,000. Congress Asset Management Co. MA boosted its holdings in shares of Infinera by 11.9% during 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 acquiring an additional 19,965 shares during the period. Cpwm LLC acquired a new stake in Infinera in the third quarter worth about $155,000. The Manufacturers Life Insurance Company lifted its holdings in Infinera by 34.4% in the third quarter. The Manufacturers Life Insurance Company now owns 972,617 shares of the communications equipment provider’s stock worth $7,101,000 after purchasing an additional 249,104 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Infinera in the second quarter worth about $1,038,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

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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