Infinera (NASDAQ:INFN) Reaches New 52-Week High at $6.92

Share on StockTwits

Infinera Corp. (NASDAQ:INFN) reached a new 52-week high on Friday . The stock traded as high as $6.92 and last traded at $6.82, with a volume of 72758 shares changing hands. The stock had previously closed at $6.60.

A number of brokerages recently weighed in on INFN. Rosenblatt Securities restated a “hold” rating and set a $6.00 price objective on shares of Infinera in a research report on Wednesday, November 13th. B. Riley reiterated a “buy” rating and issued a $8.40 target price on shares of Infinera in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised Infinera from an “underweight” rating to a “neutral” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 13th. BidaskClub cut Infinera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Infinera in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Infinera has a consensus rating of “Hold” and an average target price of $6.93.

The firm has a market capitalization of $1.19 billion, a P/E ratio of -10.61 and a beta of 0.60. The company has a 50-day moving average of $6.02 and a 200-day moving average of $4.67. The company has a current ratio of 1.47, a quick ratio of 0.89 and a debt-to-equity ratio of 0.90.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, November 12th. The communications equipment provider reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $325.34 million for the quarter, compared to analyst estimates of $327.09 million. Infinera had a negative return on equity of 34.56% and a negative net margin of 36.15%. The business’s revenue was up 62.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. Research analysts predict that Infinera Corp. will post -0.9 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in shares of Infinera in the 3rd quarter valued at about $55,000. Point72 Asset Management L.P. acquired a new position in Infinera in the third quarter valued at approximately $56,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Infinera by 95.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after buying an additional 10,733 shares during the period. US Bancorp DE boosted its holdings in shares of Infinera by 20.1% during the 2nd quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 4,051 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Infinera during the 2nd quarter worth approximately $76,000. 84.45% of the stock is currently owned by institutional investors.

About Infinera (NASDAQ:INFN)

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.

Featured Story: What type of investment options does a Roth IRA provide?

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Jefferies Financial Group Comments on B&G Foods, Inc.’s FY2019 Earnings
Jefferies Financial Group Comments on B&G Foods, Inc.’s FY2019 Earnings
National Bank Financial Raises Allied Properties Real Estate Investment  Price Target to C$59.00
National Bank Financial Raises Allied Properties Real Estate Investment Price Target to C$59.00
CGI  PT Raised to C$120.00
CGI PT Raised to C$120.00
National Bank Financial Boosts Tervita  Price Target to C$11.00
National Bank Financial Boosts Tervita Price Target to C$11.00
Commonwealth Bank of Australia  Downgraded to “Hold” at Zacks Investment Research
Commonwealth Bank of Australia Downgraded to “Hold” at Zacks Investment Research
Imperial Oil  Stock Rating Reaffirmed by Goldman Sachs Group
Imperial Oil Stock Rating Reaffirmed by Goldman Sachs Group


© 2006-2020 Ticker Report