Infinera Corp. (INFN) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Aug 25, 2016.
Many Wall Street Analysts have commented on Infinera Corp.. Infinera Corp. was Downgraded by Northland Capital to ” Market Perform” on Jul 28, 2016. Infinera Corp. was Downgraded by Jefferies to ” Hold” on Jul 28, 2016. Infinera Corp. was Downgraded by Raymond James to ” Mkt Perform” on Jul 28, 2016.
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 -0.07 points or -0.77% at $9.02 with 48,42,969 shares getting traded on Tuesday. Post opening the session at $9.12, the shares hit an intraday low of $8.96 and an intraday high of $9.22 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 3, 2016, Marcel Gani (director) purchased 50,000 shares at $8.60 per share price. According to the SEC, on Aug 3, 2016, Brad Feller (CFO) purchased 20,000 shares at $8.60 per share price. On Aug 2, 2016, John Daane (director) purchased 12,000 shares at $8.49 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.