Infinera Corp. (NASDAQ:INFN)’s share price was up 6.3% during trading on Tuesday . The company traded as high as $7.49 and last traded at $7.43. Approximately 4,325,800 shares were traded during trading, an increase of 143% from the average daily volume of 1,777,774 shares. The stock had previously closed at $6.99.

A number of equities analysts recently commented on INFN shares. William Blair cut Infinera to an “outperform” rating in a report on Wednesday, May 30th. Goldman Sachs Group cut Infinera from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, June 20th. BidaskClub upgraded Infinera from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Raymond James cut Infinera from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Infinera has a consensus rating of “Hold” and an average target price of $11.00.

The firm has a market capitalization of $1.14 billion, a PE ratio of -8.90 and a beta of 0.14.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. The company had revenue of $208.23 million during the quarter, compared to analysts’ expectations of $208.96 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. research analysts anticipate that Infinera Corp. will post -0.39 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Infinera by 100.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after acquiring an additional 7,800 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Infinera in the first quarter valued at approximately $123,000. Swiss National Bank boosted its stake in shares of Infinera by 4.6% in the first quarter. Swiss National Bank now owns 258,400 shares of the communications equipment provider’s stock valued at $2,806,000 after buying an additional 11,400 shares during the period. Legal & General Group Plc boosted its stake in shares of Infinera by 21.1% in the first quarter. Legal & General Group Plc now owns 69,314 shares of the communications equipment provider’s stock valued at $753,000 after buying an additional 12,098 shares during the period. Finally, Eagle Boston Investment Management Inc. boosted its stake in shares of Infinera by 4.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 324,744 shares of the communications equipment provider’s stock valued at $3,224,000 after buying an additional 13,712 shares during the period. Institutional investors own 83.12% of the company’s stock.

About Infinera (NASDAQ:INFN)

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.

Further Reading: What do investors mean by earnings per share?

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.