Craig Hallum reissued their hold rating on shares of Infinera (NASDAQ:INFN – Free Report) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $6.65 price objective on the communications equipment provider’s stock, down from their previous price objective of $12.00.
A number of other research firms also recently issued reports on INFN. B. Riley restated a buy rating and issued a $9.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Needham & Company LLC reiterated a hold rating on shares of Infinera in a research note on Friday, June 28th. Stifel Nicolaus restated a buy rating and issued a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Finally, Morgan Stanley increased their price target on Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Infinera presently has a consensus rating of Hold and an average target price of $7.55.
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Infinera Stock Up 1.0 %
Infinera (NASDAQ:INFN – Get Free Report) last issued its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The firm had revenue of $306.92 million during the quarter, compared to analyst estimates of $337.73 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. Sell-side analysts predict that Infinera will post -0.19 EPS for the current fiscal year.
Institutional Investors Weigh In On Infinera
Several large investors have recently made changes to their positions in the company. SageView Advisory Group LLC bought a new position in Infinera in the 1st quarter worth approximately $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter valued at $48,000. Worth Venture Partners LLC bought a new stake in shares of Infinera during the fourth quarter valued at about $53,000. Ironwood Investment Counsel LLC bought a new stake in shares of Infinera during the fourth quarter valued at about $56,000. Finally, SG Americas Securities LLC acquired a new stake in Infinera in the fourth quarter worth about $81,000. Institutional investors and hedge funds own 97.54% of the company’s stock.
Infinera Company Profile
Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.
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