Infinera (INFN) Lowered to Sell at BidaskClub

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

Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Infinera from a sell rating to a hold rating in a research note on Thursday, November 15th. Piper Jaffray Companies decreased their price target on Infinera to $6.50 and set a neutral rating for the company in a research note on Wednesday, November 7th. Rosenblatt Securities downgraded Infinera to a hold rating in a research note on Thursday, November 8th. ValuEngine upgraded Infinera from a hold rating to a buy rating in a research note on Monday, November 12th. Finally, B. Riley decreased their price target on Infinera from $6.50 to $5.50 and set a neutral rating for the company in a research note on Monday, November 5th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $8.80.

NASDAQ INFN remained flat at $$4.22 on Wednesday. The company’s stock had a trading volume of 1,142,052 shares, compared to its average volume of 1,848,945. 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 has a 1 year low of $3.54 and a 1 year high of $12.39. The stock has a market capitalization of $738.44 million, a P/E ratio of -5.08 and a beta of 0.53.

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

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Infinera in the 4th quarter valued at approximately $96,000. Vanguard Group Inc raised its holdings in Infinera by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 14,318,728 shares of the communications equipment provider’s stock valued at $104,526,000 after acquiring an additional 918,279 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Infinera in the 3rd quarter valued at approximately $2,702,000. Marshall Wace LLP acquired a new position in Infinera in the 3rd quarter valued at approximately $1,574,000. Finally, Vanguard Group Inc. raised its holdings in Infinera by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,318,728 shares of the communications equipment provider’s stock valued at $104,526,000 after acquiring an additional 918,279 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Stock Split

Analyst Recommendations for Infinera (NASDAQ:INFN)

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