Brokerage firm Raymond James Downgrades its rating on Infinera Corp.(NASDAQ:INFN). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Jul 28, 2016.
In a different note, On Jul 28, 2016, Nomura said it Downgrades its rating on Infinera Corp.. The shares have been rated ‘Neutral’ by the firm. On Jul 28, 2016, B. Riley said it Downgrades its rating on Infinera Corp.. The shares have been rated ‘Neutral’ by the firm. On Jul 28, 2016, JP Morgan said it Downgrades its rating on Infinera Corp.. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 25, 2016, Needham said it Upgrades its rating on Infinera Corp.. The shares have been rated ‘Strong Buy’ by the firm. B. Riley said it Initiates Coverage on Infinera Corp., according to a research note issued on Jul 15, 2016. The shares have been rated ‘Buy’ by the firm. Nomura said it Initiates Coverage on Infinera Corp., according to a research note issued on Jun 3, 2016. The shares have been rated ‘Buy’ by the firm.
Infinera Corp. (INFN) made into the market gainers list on Thursdays trading session with the shares advancing 1.35% or 0.12 points. Due to strong positive momentum, the stock ended at $9.02, which is also near the day’s high of $9.02. The stock began the session at $8.94 and the volume stood at 39,79,679 shares. The 52-week high of the shares is $25.24 and the 52 week low is $8.2. The company has a current market capitalization of $1,276 M and it has 14,14,65,910 shares in outstanding.
Infinera Corp.(INFN) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $259.00M. Analysts had an estimated revenue of $255.90M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.18.
Several Insider Transactions has been reported to the SEC. On May 3, 2016, Thomas J Fallon (CEO) purchased 100,000 shares at $11.95 per share price.Also, 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.