In yesterday’s Wall Street session, Infinera Corporation (NASDAQ:INFN) shares traded at $4.95, down -1.20% from the previous session.
9 analysts cover Infinera Corporation (NASDAQ:INFN), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $5.00, we find $7.75. Given the previous closing price of $5.01, this indicates a potential upside of 54.69 percent. INFN stock price is now -24.08% away from the 50-day moving average and -21.11% away from the 200-day moving average. The market capitalization of the company currently stands at $1.13B.
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The stock has received a hold rating from 3 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $8.63 as their price target over the next twelve months.
In other news, HEARD DAVID W, Chief Executive Officer bought 6,000 shares of the company’s stock on May 22. The stock was bought for $29,686 at an average price of $4.95. Upon completion of the transaction, the Chief Executive Officer now directly owns 744,943 shares in the company, valued at $3.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 10, Director RIEDEL GEORGE ANDREW bought 10,000 shares of the business’s stock. A total of $52,798 was incurred on buying the stock at an average price of $5.28. This leaves the insider owning 82,451 shares of the company worth $0.41 million. Insiders disposed of 506,137 shares of company stock worth roughly $2.51 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in INFN stock. A new stake in Infinera Corporation shares was purchased by FRIESS ASSOCIATES LLC during the first quarter worth $1,696,000. RENAISSANCE TECHNOLOGIES LLC invested $1,626,000 in shares of INFN during the first quarter. In the first quarter, CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in Infinera Corporation valued at approximately $1,087,000. WALLEYE CAPITAL LLC acquired a new stake in INFN for approximately $1,044,000. ERGOTELES LLC purchased a new stake in INFN valued at around $756,000 in the second quarter. In total, there are 275 active investors with 102.14% ownership of the company’s stock.
On Monday morning Infinera Corporation (NASDAQ: INFN) stock kicked off with the opening price of $4.9800. During the past 12 months, Infinera Corporation has had a low of $4.26 and a high of $7.80. As of last week, the company has a debt-to-equity ratio of 3.59, a current ratio of 1.70, and a quick ratio of 1.00. The fifty day moving average price for INFN is $6.4750 and a two-hundred day moving average price translates $6.2737 for the stock.
The latest earnings results from Infinera Corporation (NASDAQ: INFN) was released for Mar, 2023. According to the Communication Equipment Company, earnings per share came in at $0.03, beating analysts’ expectations of -$0.02 by 0.05. This compares to -$0.20 EPS in the same period last year. The net profit margin was -2.60% and return on equity was -28.60% for INFN. The company reported revenue of $392.07 million for the quarter, compared to $338.87 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.7 percent. For the current quarter, analysts expect INFN to generate $375.97M in revenue.
Infinera Corporation(INFN) Company Profile
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. It also offers Infinera XTM series, a packet-optical transport platform that enables metro connectivity solutions; Infinera XTC series, a multi-terabit packet optical transport platforms that integrates digital OTN switching and optical DWDM transmission; Infinera mTera series, a network transport solution; and Infinera XT series, a platform that is designed to power cloud scale network services over metro, DCI, long-haul, and subsea networks. In addition, the company provides Infinera Cloud Xpress Family that is designed to meet the needs of internet content providers (ICPs), communication service providers, internet exchange service providers, enterprises, and other large-scale data center operators; and ICE-X Coherent Pluggable Optics. It also offers Infinera Transcend software suite; and system software and customer support services. The company serves telecommunications service providers, ICPs, cable providers, wholesale carriers, research and education institutions, large enterprises, and government entities. It markets and sells its products and related support services primarily through its direct sales force. The company was formerly known as Zepton Networks. Infinera Corporation was incorporated in 2000 and is headquartered in San Jose, California.
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