The stock of Infinera Corp. (NASDAQ:INFN) hit a new 52-week low and has $6.98 target or 8.00% below today’s $7.59 share price. The 9 months bearish chart indicates high risk for the $1.07 billion company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $6.98 price target is reached, the company will be worth $85.60 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.28M shares traded hands. Infinera Corp. (NASDAQ:INFN) has declined 50.51% since March 30, 2016 and is downtrending. It has underperformed by 53.52% the S&P500.
Infinera Corp. (NASDAQ:INFN) Ratings Coverage
Out of 13 analysts covering Infinera Corp. (NASDAQ:INFN), 7 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 54% are positive. Infinera Corp. has been the topic of 26 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, September 8 by Goldman Sachs. The firm has “Outperform” rating given on Friday, December 4 by Raymond James. The firm has “Outperform” rating by Northland Capital given on Tuesday, August 18. As per Thursday, April 28, the company rating was downgraded by M Partners. The company was maintained on Friday, August 28 by M Partners. M Partners maintained the shares of INFN in a report on Friday, February 12 with “Buy” rating. The stock of Infinera Corp. (NASDAQ:INFN) has “Buy” rating given on Thursday, April 28 by Stifel Nicolaus. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, July 23. The rating was maintained by Needham with “Buy” on Friday, February 12. Citigroup downgraded Infinera Corp. (NASDAQ:INFN) rating on Thursday, April 28. Citigroup has “Neutral” rating and $17 price target.
According to Zacks Investment Research, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings.”
Insitutional Activity: The institutional sentiment increased to 1.12 in Q2 2016. Its up 0.11, from 1.01 in 2016Q1. The ratio improved, as 48 funds sold all Infinera Corp. shares owned while 49 reduced positions. 35 funds bought stakes while 74 increased positions. They now own 99.05 million shares or 5.16% less from 104.44 million shares in 2016Q1.
Blackrock Limited Com holds 0% of its portfolio in Infinera Corp. (NASDAQ:INFN) for 66,360 shares. Macquarie Group Inc owns 1.24M shares or 0.03% of their US portfolio. American Century reported 375,080 shares or 0% of all its holdings. New York State Common Retirement Fund holds 0.01% of its portfolio in Infinera Corp. (NASDAQ:INFN) for 524,578 shares. Ftb Advsr holds 0% or 978 shares in its portfolio. Swiss Commercial Bank owns 236,300 shares or 0% of their US portfolio. Morgan Stanley holds 0% or 482,440 shares in its portfolio. Fiera Capital Corporation accumulated 0.17% or 2.63 million shares. The New Jersey-based Kcg Hldg Inc has invested 0% in Infinera Corp. (NASDAQ:INFN). Citigroup holds 14,885 shares or 0% of its portfolio. Quantbot Lp last reported 0.06% of its portfolio in the stock. State Of New Jersey Common Pension Fund D holds 375,000 shares or 0.02% of its portfolio. Neuberger Berman Group Ltd Limited Liability Company, a New York-based fund reported 2.21 million shares. First Allied Advisory Ser has invested 0.02% of its portfolio in Infinera Corp. (NASDAQ:INFN). Jpmorgan Chase And Communication holds 22,709 shares or 0% of its portfolio.
More recent Infinera Corp. (NASDAQ:INFN) news were published by: Fool.com which released: “Why Infinera Corp. Stock Got Slammed by 14% Today” on October 27, 2016. Also Nasdaq.com published the news titled: “Earnings Reaction History: Infinera Corp., 60.0% Follow-Through Indicator, 15 …” on October 26, 2016. Nasdaq.com‘s news article titled: “Infinera Corp. Reveals 77% Decline In Q3 Profit” with publication date: October 26, 2016 was also an interesting one.
INFN Company Profile
Infinera Corporation, incorporated on December 6, 2000, is a well-known provider of optical transport networking systems to service providers. The Firm operates through optical transport networking systems segment. The Firm serves 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 product portfolio consists of DTN-X family of platforms, the Infinera DTN platform, the Infinera Cloud Xpress platform, the Infinera TM-Series, the Infinera TG-Series and the Infinera ATN platform addressing subsea, long-haul and metro networks. It makes indium phosphide photonic integrated circuits (PICs), which are used as a differentiating component inside its intelligent transport network platforms. The Company’s technology includes Infinera Intelligent Transport Network Architecture, Infinera Photonic Integrated Circuits, Infinera FlexCoherent Processor, Super-Channels, Integrated Optical Network Terminal (OTN) Switching, Infinera Instant Bandwidth and Infinera Packet Optical Transport.
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