Drexel Hamilton set a $13.00 price target on Infinera (NASDAQ:INFN) in a research report released on Wednesday. The brokerage currently has a buy rating on the communications equipment provider’s stock.

“We are resuming coverage of INFN with a Buy rating and a 12-month target of $13.00. In our view, INFN has successfully navigated the challenges posed by an aging product portfolio and lower customer capex spend, and now has all of the pieces to begin driving sustainable long-term revenue growth. Demand for the firm’s refreshed product portfolio is being well received thus far, with 1/3 of the company’s market covered by the two platforms. The remainder of products should begin rolling out during 1HFY into the service provider market.”,” the firm’s analyst commented.

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A number of other brokerages have also recently issued reports on INFN. BidaskClub upgraded shares of Infinera from a sell rating to a hold rating in a research report on Friday, December 22nd. Zacks Investment Research cut shares of Infinera from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Citigroup dropped their target price on shares of Infinera from $8.50 to $7.50 and set a neutral rating for the company in a research report on Wednesday, January 24th. ValuEngine cut shares of Infinera from a sell rating to a strong sell rating in a research report on Friday, February 2nd. Finally, Northland Securities upgraded shares of Infinera from a market perform rating to an outperform rating and set a $11.00 target price for the company in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $11.46.

INFN stock opened at $11.04 on Wednesday. Infinera has a 1-year low of $6.10 and a 1-year high of $12.38.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $195.82 million during the quarter, compared to the consensus estimate of $190.26 million. Infinera had a negative net margin of 26.26% and a negative return on equity of 17.20%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. research analysts predict that Infinera will post -0.43 earnings per share for the current year.

In other Infinera news, insider David F. Welch sold 60,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $9.07, for a total value of $544,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Welch sold 149,093 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total transaction of $1,495,402.79. The disclosure for this sale can be found here. Insiders sold a total of 289,093 shares of company stock valued at $2,770,803 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nationwide Fund Advisors increased its position in Infinera by 127.3% in the 3rd quarter. Nationwide Fund Advisors now owns 214,224 shares of the communications equipment provider’s stock valued at $1,900,000 after acquiring an additional 119,968 shares in the last quarter. Teton Advisors Inc. increased its position in Infinera by 67.0% in the 4th quarter. Teton Advisors Inc. now owns 196,600 shares of the communications equipment provider’s stock valued at $1,244,000 after acquiring an additional 78,900 shares in the last quarter. Wells Fargo & Company MN increased its position in Infinera by 8.1% in the 3rd quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock valued at $15,505,000 after acquiring an additional 130,573 shares in the last quarter. JPMorgan Chase & Co. increased its position in Infinera by 65.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,664,481 shares of the communications equipment provider’s stock valued at $32,176,000 after acquiring an additional 1,446,641 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Infinera by 33.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 374,852 shares of the communications equipment provider’s stock valued at $3,327,000 after acquiring an additional 93,825 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

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Infinera Company Profile

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 (NASDAQ:INFN)

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