Infinera Corp. (INFN) is Reiterated by MKM Partners to Neutral, Lowers Price Target to $ 13

Infinera Corp. (INFN) was Reiterated by MKM Partners to “Neutral” while Lowering the Price Target of the company shares to $ 13 from a previous price target of $15 . MKM Partners advised their investors in a research report released on Jun 20, 2016.

Many Wall Street Analysts have commented on Infinera Corp.. Nomura Initiated Infinera Corp. on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $17.Infinera Corp. was Downgraded by Citigroup to ” Neutral” on Apr 28, 2016. Shares were Downgraded by MKM Partners on Apr 28, 2016 to ” Neutral” and Lowered the Price Target to $ 15 from a previous price target of $21 .

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. closed down -0.25 points or -2.02% at $12.15 with 26,07,363 shares getting traded on Friday. Post opening the session at $12.42, the shares hit an intraday low of $12.1 and an intraday high of $12.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 3, 2016, Brad Feller (CFO) purchased 25,000 shares at $11.76 per share price. According to the SEC, on May 3, 2016, Thomas J Fallon (CEO) purchased 100,000 shares at $11.95 per share price. On Dec 8, 2015, James Laufman (Senior VP and General Counsel) sold 5,000 shares at $22.30 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.

Infinera Corp.

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