Several other research firms have also commented on INFN. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Northland Securities reaffirmed a “buy” rating and set a $55.00 price objective on shares of Heron Therapeutics in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.00.
NASDAQ INFN opened at $3.42 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average price is $3.04. Infinera has a 52 week low of $2.80 and a 52 week high of $9.94.
In related news, Director Marcel Gani bought 100,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $3.15 per share, with a total value of $315,000.00. Following the completion of the purchase, the director now owns 222,281 shares of the company’s stock, valued at $700,185.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas J. Fallon bought 50,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $3.32 per share, with a total value of $166,000.00. The disclosure for this purchase can be found here. Insiders have bought 175,000 shares of company stock valued at $559,250 over the last three months. Insiders own 2.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Infinera by 23.5% during the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 3,288 shares during the period. Prudential Financial Inc. boosted its stake in shares of Infinera by 19.8% during the fourth quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 2,975 shares during the period. Royce & Associates LP purchased a new stake in shares of Infinera during the first quarter valued at $87,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Infinera during the fourth quarter valued at $93,000. Finally, Meitav Dash Investments Ltd. purchased a new stake in Infinera in the first quarter worth about $172,000. 86.32% of the stock is owned by hedge funds and other institutional investors.
Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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