Infinera Corporation (NASDAQ:INFN)‘s stock had its “strong-buy” rating restated by analysts at Needham & Company LLC in a note issued to investors on Thursday. They presently have a $13.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 52.40% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Infinera Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Wells Fargo & Company upgraded Infinera Corporation from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $10.00 to $13.00 in a research note on Friday, May 26th. TheStreet cut Infinera Corporation from a “c-” rating to a “d+” rating in a research note on Monday, May 15th. Deutsche Bank AG restated a “buy” rating and set a $12.50 price objective (up from $12.00) on shares of Infinera Corporation in a research note on Monday, July 17th. Finally, Craig Hallum started coverage on Infinera Corporation in a research note on Tuesday, July 18th. They set a “buy” rating and a $15.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.82.

Infinera Corporation (NASDAQ:INFN) opened at 8.53 on Thursday. The stock has a 50 day moving average of $10.00 and a 200-day moving average of $10.35. Infinera Corporation has a one year low of $7.23 and a one year high of $12.50. The firm’s market capitalization is $1.26 billion.

Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The firm had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. During the same quarter last year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was down 31.9% compared to the same quarter last year. On average, equities analysts predict that Infinera Corporation will post ($0.56) EPS for the current year.

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In other news, President David F. Welch sold 40,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $12.09, for a total transaction of $483,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock worth $729,400 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of INFN. Bbva Compass Bancshares Inc. acquired a new position in shares of Infinera Corporation during the first quarter worth approximately $103,000. US Bancorp DE raised its position in shares of Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares during the period. Karp Capital Management Corp acquired a new position in shares of Infinera Corporation during the first quarter worth approximately $106,000. Fred Alger Management Inc. acquired a new position in shares of Infinera Corporation during the second quarter worth approximately $107,000. Finally, AlphaOne Investment Services LLC acquired a new position in shares of Infinera Corporation during the second quarter worth approximately $108,000. 86.70% of the stock is currently owned by institutional investors.

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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