Published On: Mon, Sep 19th, 2016

Infinera Corp. (INFN) Downgraded by Jefferies Group to Hold

Infinera Corp. (NASDAQ:INFN) was downgraded by Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other research analysts have also recently weighed in on the stock. Raymond James Financial Inc. cut shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Northland Securities cut shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Nomura reiterated a “buy” rating and issued a $17.00 price target on shares of Infinera Corp. in a report on Thursday, June 23rd. Citigroup Inc. reiterated a “hold” rating on shares of Infinera Corp. in a report on Tuesday, June 21st. Finally, Zacks Investment Research downgraded shares of Infinera Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Infinera Corp. currently has an average rating of “Hold” and a consensus target price of $15.07.
Infinera Corp. (NASDAQ:INFN) traded up 0.24% during mid-day trading on Thursday, hitting $8.49. 2,358,904 shares of the stock were exchanged. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 28.11 and a beta of 0.99. Infinera Corp. has a 52 week low of $8.20 and a 52 week high of $22.85. The company’s 50-day moving average price is $9.10 and its 200 day moving average price is $12.33.

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Infinera Corp. (NASDAQ:INFN) last released its earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Infinera Corp. had a net margin of 4.48% and a return on equity of 11.38%. The company had revenue of $258.82 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the previous year, the company earned $0.18 EPS. Infinera Corp.’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research analysts expect that Infinera Corp. will post $0.42 EPS for the current year.
In related news, Director Marcel Gani acquired 50,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $8.60 per share, with a total value of $430,000.00. Following the transaction, the director now directly owns 87,547 shares in the company, valued at $752,904.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad Feller acquired 20,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $8.60 per share, with a total value of $172,000.00. Following the completion of the transaction, the chief financial officer now owns 109,586 shares in the company, valued at $942,439.60. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in INFN. King Luther Capital Management Corp boosted its stake in Infinera Corp. by 0.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,417,325 shares of the company’s stock valued at $25,682,000 after buying an additional 4,245 shares during the period. Coe Capital Management LLC boosted its stake in Infinera Corp. by 27.5% in the fourth quarter. Coe Capital Management LLC now owns 175,390 shares of the company’s stock valued at $3,178,000 after buying an additional 37,836 shares during the period. KBC Group NV bought a new stake in Infinera Corp. during the fourth quarter valued at about $1,232,000. Trexquant Investment LP bought a new stake in Infinera Corp. during the fourth quarter valued at about $2,735,000. Finally, Hodges Capital Management Inc. bought a new stake in Infinera Corp. during the fourth quarter valued at about $12,217,000. 69.80% of the stock is owned by institutional investors.
Infinera Corp. Company Profile
Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.

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