Infinera (INFN) Trading Up -1.7%

Infinera (NASDAQ:INFN) shares were up 1.7% during trading on Monday . The company traded as high as $10.30 and last traded at $9.95. Approximately 138,470 shares changed hands during trading, a decline of 92% from the average daily volume of 1,650,219 shares. The stock had previously closed at $10.12.

A number of research analysts have commented on INFN shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Infinera in a research report on Monday, April 16th. BidaskClub upgraded Infinera from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Drexel Hamilton set a $13.00 target price on Infinera and gave the stock a “buy” rating in a report on Thursday, May 10th. Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, Citigroup reduced their target price on Infinera from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.90.

The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.99 and a beta of 0.49.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, May 9th. The communications equipment provider reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. The company had revenue of $202.70 million for the quarter, compared to the consensus estimate of $200.81 million. Infinera had a negative return on equity of 15.84% and a negative net margin of 23.48%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. equities analysts expect that Infinera will post -0.42 earnings per share for the current year.

In related news, insider David F. Welch sold 149,093 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $10.03, for a total value of $1,495,402.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new stake in shares of Infinera in the 1st quarter worth approximately $123,000. Zeke Capital Advisors LLC purchased a new stake in shares of Infinera in the 1st quarter worth approximately $134,000. Jane Street Group LLC grew its stake in shares of Infinera by 2,170.9% in the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after buying an additional 15,196 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Infinera in the 4th quarter worth approximately $130,000. Finally, Virtu Financial LLC purchased a new stake in shares of Infinera in the 4th quarter worth approximately $155,000. Institutional investors own 87.48% of the company’s stock.

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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