Infinera (NASDAQ:INFN) Downgraded by Jefferies Financial Group to Underperform

Jefferies Financial Group cut shares of Infinera (NASDAQ:INFN) from a hold rating to an underperform rating in a report released on Thursday morning, The Fly reports.

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INFN has been the topic of a number of other research reports. ValuEngine lowered Infinera from a buy rating to a hold rating in a research report on Wednesday, September 4th. B. Riley set a $8.00 price objective on Infinera and gave the company a buy rating in a research note on Friday, October 25th. Raymond James raised Infinera from an underperform rating to a market perform rating in a research note on Thursday, August 8th. MKM Partners boosted their price objective on Infinera from $6.00 to $7.00 and gave the company a buy rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $9.00 price target on shares of Infinera in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $6.22.

NASDAQ INFN traded up $0.02 during midday trading on Thursday, hitting $5.23. The company had a trading volume of 2,782,700 shares, compared to its average volume of 2,583,318. The firm has a 50-day moving average price of $5.46 and a 200-day moving average price of $4.26. Infinera has a twelve month low of $2.80 and a twelve month high of $6.50. The company has a market capitalization of $1.06 billion, a PE ratio of -8.17 and a beta of 0.54. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.67.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.11. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The firm had revenue of $296.25 million for the quarter, compared to analyst estimates of $300.40 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The business’s revenue was up 42.3% on a year-over-year basis. On average, equities analysts anticipate that Infinera will post -0.91 EPS for the current year.

A number of hedge funds have recently bought and sold shares of INFN. Nuveen Asset Management LLC acquired a new position in Infinera during the 2nd quarter worth approximately $2,227,000. Heartland Advisors Inc. acquired a new position in Infinera during the 2nd quarter worth approximately $1,455,000. Paradigm Capital Management Inc. NY raised its stake in Infinera by 45.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,198,000 shares of the communications equipment provider’s stock worth $3,486,000 after buying an additional 373,700 shares during the period. Atria Investments LLC acquired a new position in Infinera during the 2nd quarter worth approximately $1,328,000. Finally, Divisar Capital Management LLC increased its holdings in Infinera by 6.6% during the 2nd quarter. Divisar Capital Management LLC now owns 3,313,674 shares of the communications equipment provider’s stock worth $9,643,000 after purchasing an additional 206,432 shares in the last quarter. 79.13% of the stock is currently owned by institutional investors and hedge funds.

Infinera Company Profile

Infinera Corporation provides optical transport networking 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.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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