Infinera Corp. (INFN) was Downgraded by MKM Partners to ” Neutral” while Lowering the Price Target of the company shares to $ 15 from a previous price target of $21 . Earlier the firm had a rating of “Buy ” on the company shares. MKM Partners advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on Infinera Corp.. Infinera Corp. was Downgraded by Citigroup to ” Neutral” on Apr 28, 2016. Infinera Corp. was Upgraded by Goldman to ” Neutral” on Apr 15, 2016. Infinera Corp. was Initiated by Drexel Hamilton to “Buy” on Apr 8, 2016.
On the company’s financial health, Infinera Corp. reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.17. The company had revenue of $244.82 million for the quarter, compared to analysts expectations of $246.16 million. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Infinera Corp. opened for trading at $15.05 and hit $15.71 on the upside on Wednesday, eventually ending the session at $15.57, with a gain of 2.98% or 0.45 points. The heightened volatility saw the trading volume jump to 31,00,343 shares. Company has a market cap of $2,201 M.
In a different news, on Dec 8, 2015, James Laufman (Senior VP and General Counsel) sold 5,000 shares at $22.30 per share price. According to the SEC, on Nov 4, 2015, Thomas J Fallon (Chief Executive Officer) sold 200,000 shares at $19.85 per share price. On Aug 19, 2015, Brad Feller (Chief Financial Officer) sold 25,000 shares at $24.09 per share price, according to the Form-4 filing with the securities and exchange commission.
Infinera Corporation is engaged in optical transport networking systems. The Company provides optical transport networking equipment software and services to Tier 1 and Tier 2 telecommunications service providers Internet content providers (ICPs) cable operators wholesale and enterprise carriers research and education institutions and government entities around the world. The Company’s technologies and platforms enable Service Providers to deliver bandwidth. The Company uses its large scale photonic integrated circuits (PICs) to deliver optical networking solutions for the network environments. Its product portfolio consists of the Infinera DTN-X and the Infinera DTN platforms targeted for long-haul and subsea networks and the Cloud Xpress and ATN platforms targeted for metro networks. It also provides software solutions to increase the efficiency and optimization of the network.