Infinera (NASDAQ:INFN)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a research report issued on Friday. They currently have a $9.50 price target on the communications equipment provider’s stock, up from their previous price target of $8.00. Morgan Stanley’s target price points to a potential downside of 15.71% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Infinera from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price objective (down previously from $15.00) on shares of Infinera in a report on Thursday, November 9th. Zacks Investment Research raised shares of Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Northland Securities raised shares of Infinera from a “market perform” rating to an “outperform” rating and set a $11.00 price objective for the company in a report on Thursday, February 8th. Finally, Citigroup cut their price objective on shares of Infinera from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Infinera currently has an average rating of “Hold” and a consensus target price of $11.50.
Infinera (NASDAQ INFN) traded up $0.27 on Friday, reaching $11.27. 1,658,219 shares of the company’s stock were exchanged, compared to its average volume of 2,097,995. Infinera has a one year low of $6.10 and a one year high of $12.38. The stock has a market capitalization of $1,646.03, a PE ratio of -8.54 and a beta of 0.63.
In other news, insider David F. Welch sold 149,093 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total transaction of $1,495,402.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David F. Welch sold 60,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $9.07, for a total transaction of $544,200.00. The disclosure for this sale can be found here. Insiders have sold 289,093 shares of company stock valued at $2,770,803 in the last three months. Corporate insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB purchased a new stake in Infinera during the 4th quarter valued at about $130,000. MetLife Investment Advisors LLC purchased a new stake in Infinera during the 4th quarter valued at about $422,000. Jane Street Group LLC grew its stake in Infinera by 2,170.9% during the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock valued at $101,000 after acquiring an additional 15,196 shares in the last quarter. Millennium Management LLC purchased a new stake in Infinera during the 4th quarter valued at about $621,000. Finally, Guggenheim Capital LLC grew its stake in Infinera by 10.4% during the 4th quarter. Guggenheim Capital LLC now owns 1,092,262 shares of the communications equipment provider’s stock valued at $6,914,000 after acquiring an additional 102,584 shares in the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.
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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.
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