Infinera Corp. (INFN) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Jul 28, 2016.
Many Wall Street Analysts have commented on Infinera Corp.. Infinera Corp. was Downgraded by Northland Capital to ” Market Perform” on Jul 28, 2016. Needham Upgraded Infinera Corp. on Jul 25, 2016 to ” Strong Buy”, Price Target of the shares are set at $20.Shares were Reiterated by MKM Partners on Jun 20, 2016 to “Neutral” and Lowered the Price Target to $ 13 from a previous price target of $15 .
On the company’s financial health, Infinera Corp. reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.18. The company had revenue of $258.82 million for the quarter, compared to analysts expectations of $255.83 million. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Infinera Corp. closed down -4.2 points or -33.57% at $8.31 with 2,11,33,933 shares getting traded on Thursday. Post opening the session at $8.4, the shares hit an intraday low of $8.2 and an intraday high of $8.64 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 3, 2016, Thomas J Fallon (CEO) purchased 100,000 shares at $11.95 per share price. According to the SEC, on May 3, 2016, Brad Feller (CFO) purchased 25,000 shares at $11.76 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.