Infinera Corp. (INFN) was Upgraded by Needham to ” Strong Buy” and the brokerage firm has set the Price Target at $20. Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Jul 25, 2016.
Many Wall Street Analysts have commented on Infinera Corp.. 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 .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.
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 $12 and hit $12.24 on the upside on Wednesday, eventually ending the session at $12.13, with a gain of 2.19% or 0.26 points. The heightened volatility saw the trading volume jump to 30,48,941 shares. Company has a market cap of $1,716 M.
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.