Infinera Co. (NASDAQ:INFN) Receives $6.72 Average Target Price from Brokerages

Posted by Defense World Staff on Oct 25th, 2023

Shares of Infinera Co. (NASDAQ:INFN – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.72.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC lowered their price objective on Infinera from $15.00 to $10.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 10th. Morgan Stanley lowered their price target on Infinera from $5.00 to $4.60 and set an “equal weight” rating on the stock in a research report on Thursday, August 10th. Stifel Nicolaus started coverage on Infinera in a research report on Wednesday, September 27th. They set a “buy” rating and a $7.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $6.00 price target on shares of Infinera in a research report on Friday, August 25th. Finally, StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, October 19th.

Get Our Latest Analysis on INFN

Insider Transactions at Infinera

In other Infinera news, CAO Michael H. Fernicola purchased 6,500 shares of Infinera stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $3.90 per share, for a total transaction of $25,350.00. Following the acquisition, the chief accounting officer now directly owns 107,558 shares in the company, valued at $419,476.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Asset Management One Co. Ltd. increased its holdings in Infinera by 70.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 29,003 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 11,974 shares during the period. DDD Partners LLC purchased a new position in shares of Infinera during the 3rd quarter worth approximately $62,000. Acorn Financial Advisory Services Inc. ADV grew its holdings in shares of Infinera by 24.2% during the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 227,815 shares of the communications equipment provider’s stock worth $952,000 after acquiring an additional 44,417 shares during the period. Red Spruce Capital LLC grew its holdings in shares of Infinera by 9.9% during the 3rd quarter. Red Spruce Capital LLC now owns 103,822 shares of the communications equipment provider’s stock worth $434,000 after acquiring an additional 9,324 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Infinera during the 2nd quarter worth approximately $483,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.

Infinera Trading Up 2.6 %

Shares of INFN stock opened at $3.17 on Friday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 1.00 and a current ratio of 1.68. Infinera has a 52-week low of $3.08 and a 52-week high of $7.80. The company has a market capitalization of $719.34 million, a PE ratio of -79.25 and a beta of 1.41. The business’s fifty day moving average is $3.96 and its 200 day moving average is $4.67.

Infinera (NASDAQ:INFN – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Infinera had a negative return on equity of 3.26% and a negative net margin of 0.43%. The company had revenue of $376.23 million for the quarter, compared to the consensus estimate of $377.05 million. On average, equities research analysts anticipate that Infinera will post -0.16 EPS for the current fiscal year.

Infinera Company Profile

(Get Free Report

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.