Morgan Stanley reissued their equal weight rating on shares of Infinera (NASDAQ:INFN) in a research note issued to investors on Friday. Morgan Stanley currently has a $9.50 target price on the communications equipment provider’s stock, up from their prior target price of $8.00.
Several other analysts have also recently commented on INFN. BidaskClub cut Infinera from a hold rating to a sell rating in a research report on Thursday, January 11th. MKM Partners cut Infinera from a buy rating to a neutral rating and set a $13.00 price target on the stock. in a research report on Thursday, November 9th. Nomura lowered their price target on Infinera from $13.00 to $11.00 and set a buy rating on the stock in a research report on Thursday, November 9th. ValuEngine cut Infinera from a sell rating to a strong sell rating in a research report on Friday, February 2nd. Finally, Citigroup lowered their price target on Infinera from $9.00 to $8.50 and set a neutral rating on the stock in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Infinera presently has a consensus rating of Hold and an average target price of $11.50.
Shares of Infinera (NASDAQ:INFN) opened at $11.44 on Friday. Infinera has a 1 year low of $6.10 and a 1 year high of $12.38. The company has a market capitalization of $1,686.43, a P/E ratio of -8.67 and a beta of 0.63.
In related news, insider David F. Welch sold 60,000 shares of Infinera stock in a transaction on Monday, February 12th. The stock was sold at an average price of $9.07, for a total value of $544,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David F. Welch sold 149,093 shares of Infinera stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $10.03, for a total value of $1,495,402.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,093 shares of company stock worth $2,770,803. 3.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INFN. Jane Street Group LLC grew its holdings in shares of Infinera by 2,170.9% in the 4th quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 15,196 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in shares of Infinera in the 4th quarter worth $130,000. Virtu Financial LLC acquired a new position in shares of Infinera in the 4th quarter worth $155,000. MANA Advisors LLC acquired a new position in shares of Infinera in the 4th quarter worth $161,000. Finally, Aperio Group LLC grew its holdings in shares of Infinera by 87.6% in the 3rd quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock worth $168,000 after acquiring an additional 8,847 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.
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Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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