B. Riley reissued their buy rating on shares of Infinera Corporation (NASDAQ:INFN) in a research report report published on Tuesday. The brokerage currently has a $12.00 price objective on the communications equipment provider’s stock, down from their prior price objective of $14.00.

A number of other analysts have also recently issued reports on the stock. Needham & Company LLC reissued a strong-buy rating and issued a $13.00 price objective on shares of Infinera Corporation in a research note on Thursday, August 31st. Deutsche Bank AG reissued a buy rating and issued a $12.50 price objective (up from $12.00) on shares of Infinera Corporation in a research note on Monday, July 17th. Zacks Investment Research raised shares of Infinera Corporation from a sell rating to a hold rating in a research note on Tuesday, October 10th. Craig Hallum started coverage on shares of Infinera Corporation in a research note on Tuesday, July 18th. They issued a buy rating and a $15.00 price objective for the company. Finally, Citigroup Inc. increased their price objective on shares of Infinera Corporation from $8.50 to $10.00 and gave the stock a sell rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $10.96.

Shares of Infinera Corporation (NASDAQ:INFN) traded down $0.01 during mid-day trading on Tuesday, reaching $6.35. 4,042,700 shares of the company’s stock were exchanged, compared to its average volume of 1,910,151. Infinera Corporation has a twelve month low of $6.28 and a twelve month high of $12.50.

Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.12. The firm had revenue of $192.60 million during the quarter, compared to analysts’ expectations of $190.37 million. Infinera Corporation had a negative net margin of 21.59% and a negative return on equity of 16.35%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) earnings per share. equities research analysts predict that Infinera Corporation will post -0.85 EPS for the current year.

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In related news, President David F. Welch sold 20,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Infinera Corporation by 8.1% during the third quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock valued at $15,505,000 after purchasing an additional 130,573 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Infinera Corporation by 65.2% during the third quarter. JPMorgan Chase & Co. now owns 3,664,481 shares of the communications equipment provider’s stock valued at $32,176,000 after purchasing an additional 1,446,641 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its position in Infinera Corporation by 9.8% during the third quarter. Eagle Boston Investment Management Inc. now owns 409,648 shares of the communications equipment provider’s stock valued at $3,686,000 after purchasing an additional 36,725 shares during the last quarter. Granite Investment Partners LLC lifted its position in Infinera Corporation by 6.2% during the third quarter. Granite Investment Partners LLC now owns 1,394,593 shares of the communications equipment provider’s stock valued at $12,370,000 after purchasing an additional 82,027 shares during the last quarter. Finally, Adirondack Research & Management Inc. lifted its position in Infinera Corporation by 90.7% during the third quarter. Adirondack Research & Management Inc. now owns 431,010 shares of the communications equipment provider’s stock valued at $3,823,000 after purchasing an additional 205,010 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Analyst Recommendations for Infinera Corporation (NASDAQ:INFN)

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