Infinera (NASDAQ:INFN – Get Free Report) was downgraded by analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
INFN has been the subject of a number of other research reports. Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.09.
Read Our Latest Report on Infinera
Infinera Stock Performance
Hedge Funds Weigh In On Infinera
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SageView Advisory Group LLC purchased a new position in shares of Infinera in the 1st quarter worth $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter valued at approximately $104,000. Headlands Technologies LLC bought a new stake in shares of Infinera in the 2nd quarter valued at approximately $112,000. Algert Global LLC purchased a new position in shares of Infinera in the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC increased its position in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.
Infinera Company Profile
Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.
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