In yesterday’s Wall Street session, Infinera Corporation (NASDAQ:INFN) shares traded at $3.93, unchanged from the previous session.
As of this writing, 9 analysts cover Infinera Corporation (NASDAQ:INFN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $4.00, we find $5.50. Given the previous closing price of $3.93, this indicates a potential upside of 39.95 percent. INFN stock price is now -13.71% away from the 50-day moving average and -35.69% away from the 200-day moving average. The market capitalization of the company currently stands at $876.19M.
There are 4 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $6.70 as their price target over the next twelve months.
In other news, Fernicola Michael H, Chief Accounting Officer bought 4,000 shares of the company’s stock on Aug 17. The stock was bought for $16,000 at an average price of $4.00. Upon completion of the transaction, the Chief Accounting Officer now directly owns 111,558 shares in the company, valued at $0.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16, Chief Accounting Officer Fernicola Michael H bought 6,500 shares of the business’s stock. A total of $25,350 was incurred on buying the stock at an average price of $3.90. This leaves the insider owning 107,558 shares of the company worth $0.42 million. Insiders disposed of 431,433 shares of company stock worth roughly $1.7 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 POLAR ASSET MANAGEMENT PARTNERS INC. during the first quarter worth $4,920,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $1,545,000 in shares of INFN during the first quarter. In the first quarter, NEEDHAM INVESTMENT MANAGEMENT LLC acquired a new stake in Infinera Corporation valued at approximately $1,503,000. FORMULA GROWTH LTD acquired a new stake in INFN for approximately $884,000. ATOM INVESTORS LP purchased a new stake in INFN valued at around $501,000 in the second quarter. In total, there are 278 active investors with 105.50% ownership of the company’s stock.
Thursday morning saw Infinera Corporation (NASDAQ: INFN) opened at $3.9300. During the past 12 months, Infinera Corporation has had a low of $3.62 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 $4.5398 and a two-hundred day moving average price translates $6.1017 for the stock.
The latest earnings results from Infinera Corporation (NASDAQ: INFN) was released for Jun, 2023. According to the Communication Equipment Company, earnings per share came in at $0, beating analysts’ expectations of -$0.03 by 0.03. This compares to -$0.26 EPS in the same period last year. The net profit margin was -4.70% and return on equity was -51.00% for INFN. The company reported revenue of $376.23 million for the quarter, compared to $357.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.1 percent. For the current quarter, analysts expect INFN to generate $376.62M 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.
