Infinera Corporation (NASDAQ:INFN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

Other analysts have also recently issued reports about the company. B. Riley raised Infinera Corporation to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, June 27th. BidaskClub cut Infinera Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Citigroup Inc. boosted their price target on Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Friday, July 21st. MKM Partners reissued a “buy” rating and issued a $14.00 price target on shares of Infinera Corporation in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Infinera Corporation in a research report on Monday, July 10th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Infinera Corporation currently has an average rating of “Hold” and an average price target of $11.82.

Shares of Infinera Corporation (NASDAQ INFN) opened at 8.76 on Wednesday. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50. The stock’s market capitalization is $1.30 billion. The stock has a 50 day moving average price of $8.52 and a 200 day moving average price of $9.94.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $176.28 million during the quarter, compared to the consensus estimate of $181.16 million. During the same period in the prior year, the firm 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 research analysts expect that Infinera Corporation will post ($0.56) 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 that occurred on Tuesday, August 8th. The stock was sold at an average price of $9.29, for a total value of $185,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President David F. Welch sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $426,200 over the last ninety days. 2.90% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in Infinera Corporation by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 409 shares in the last quarter. Independent Portfolio Consultants Inc. lifted its position in Infinera Corporation by 2.9% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 16,714 shares of the communications equipment provider’s stock valued at $178,000 after acquiring an additional 469 shares in the last quarter. Prudential Financial Inc. lifted its position in Infinera Corporation by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 710 shares in the last quarter. Legal & General Group Plc lifted its position in Infinera Corporation by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 972 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Infinera Corporation by 5.7% in the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock valued at $196,000 after acquiring an additional 992 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Infinera Corporation 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 Corporation (NASDAQ:INFN)

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