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. It also offers Infinera XTM series, a packet-optical transport platform that enables metro connectivity solutions; Infinera XTC series, a multi-terabit packet optical transport platforms that integrates digital OTN switching and optical WDM transmission; Infinera mTera series, a network transport solution; and Infinera XT series, a platform that is designed to power cloud scale network services over metro, DCI, long-haul, and subsea networks. The company provides Infinera Cloud Xpress Family that is designed to meet the needs of internet content providers (ICPs), communication service providers, internet exchange service providers, enterprises, and other large-scale data center operators; Infinera DRX series for routers; and Infinera 8600 series for SDN-ready Internet Protocol/MPLS routers. It also offers Infinera CNOS, a hardware-independent network operating system; Transcend software suite; and system software and customer support services. The company also serves telecommunications service providers, ICPs, cable providers, wholesale carriers, research and education institutions, large enterprises, and government entities. It markets and sells its products and related support services primarily through its direct sales force. The company was formerly known as Zepton Networks. The company was incorporated in 2000 and is headquartered in San Jose, California.
IPO Year: 2007
Exchange: NASDAQ
Website: infinera.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
8/5/2024 | $8.00 → $6.65 | Buy → Neutral | Rosenblatt |
4/22/2024 | $10.00 | Buy | Needham |
9/28/2023 | $7.00 | Buy | Stifel |
8/11/2023 | Underperform → Hold | Jefferies | |
8/4/2022 | $9.00 | Buy | MKM Partners |
3/24/2022 | $12.00 | Buy | Rosenblatt |
2/14/2022 | $9.00 | Hold | Loop Capital |
1/24/2022 | $10.00 → $11.50 | Neutral → Buy | B. Riley Securities |
10/18/2021 | $11.00 → $9.00 | Neutral → Underweight | JP Morgan |
9/24/2021 | Buy → Neutral | MKM Partners |
Craig-Hallum analyst Christian Schwab downgrades Infinera (NASDAQ:INFN) from Buy to Hold and lowers the price target from $12 to $6.65.
Infinera (NASDAQ:INFN) shares are trading higher Friday following an announcement by Nokia (NYSE:NOK) that it will acquire the company. What Happened: Nokia is set to purchase Infinera at $6.65 per share, totaling to $2.23 billion. This share price represents a premium of 28% to Infinera’s share price on Wednesday at market close. Infinera shareholders can choose to receive either $6.65 in cash, 1.78 Nokia shares, or $4.66 in cash and 0.53 Nokia shares, per Infinera share. Nokia stated the acquisition of Infinera strengthens the company’s optical networking market position, particularly in North America, while advancing its strategy to diversify its customer base and enhance its web
Morgan Stanley analyst Meta Marshall maintains Infinera (NASDAQ:INFN) with a Equal-Weight and raises the price target from $5.4 to $6.65.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. JP Morgan analyst Matthew Boss downgraded NIKE, Inc. (NYSE:NKE) from Overweight to Neutral, while cutting the price target from $116 to $83. Nike shares gained 0.1% to close at $94.19 on Thursday. See how other analysts view this stock. Argus Research analyst David Toung downgraded the rating for Charles River Laboratories International, Inc. (NYSE:CRL) from Buy to Hold. Charles River shares gained 0.3% to close at $207.35 on Thursday. See how other analysts view this stock. Stifel
Infinera (NASDAQ:INFN) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 0 0 0 0 Last 30D 0 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 3 0 0 0 0 3M Ago 1 0 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $8.25, a high estimate of $10.00, and a low estimate of $7.00. This current average i
Needham analyst Ryan Koontz downgrades Infinera (NASDAQ:INFN) from Buy to Hold.
With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows: Crown Crafts, Inc. (NASDAQ:CRWS) is scheduled to release earnings results for its fourth quarter before the opening bell. Crown Crafts shares gained 1% to $5.05 in the after-hours trading session. Nokia Corp (NYSE:NOK) announced plans to acquire Infinera Corporation (NASDAQ:INFN) in a transaction valuing Infinera at $6.65 per share. Infinera shares jumped 18.1% to $6.21 in after-hours trading, while Nokia shares fell 0.3% to $3.72 in the after-hours trading session. Nike Inc (NYSE:NKE) reported mixed results for its fourth quarter. The company reported
Infinera Corporation (NASDAQ:INFN) shares are trading higher Thursday after the company announced Nokia Corp (NYSE:NOK) will acquire the company in a transaction valuing Infinera at $6.65 per share. The Details: The companies announced a definitive agreement under which Nokia will acquire Infinera in a transaction valuing the company at $6.65 per share or an enterprise value of $2.3 billion. The transaction represents a premium of 28% to Infinera’s share price at the close of June 26 and a 37% premium to the trailing 180-day volume weighted average price (VWAP). Infinera's stock is up more than 10% year-to-date and ended Thursday's session with a market cap of $1.214 billion, accordin
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SAN JOSE, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Core-Backbone, a global network provider, deployed Infinera's GX Series ICE6 800G coherent solution to upgrade and extend key network routes between Nuremburg and Munich, Nuremburg and Prague, and Hamburg and Düsseldorf, doubling network capacity on each network segment while reducing power consumption per bit. This network upgrade further expands Core-Backbone's network across Europe, providing high-capacity, high-performance connectivity services that are reliable, secure, and cost-efficient. Core-Backbone is one of the fastest-growing German carriers, operating in Europe, Asia, and North Am
SAN JOSE, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released financial results for its second quarter ended June 29, 2024. GAAP revenue for the quarter was $342.7 million compared to $306.9 million in the first quarter of 2024 and $376.2 million in the second quarter of 2023. GAAP gross margin for the quarter was 39.6% compared to 36.0% in the first quarter of 2024 and 38.0% in the second quarter of 2023. GAAP operating margin for the quarter was (8.7)% compared to (14.0)% in the first quarter of 2024 and (3.8)% in the second quarter of 2023. GAAP net loss for the quarter was $(48.3) million, or $(0.21) per diluted share, compared to net loss of
SAN JOSE, Calif., July 29, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that GARR, the Italian research and education network, selected Infinera's GX Series ICE6 800G coherent solution to double capacity of GARR's new optical infrastructure, GARR-T. As part of this project, GARR's expanded network will now extend to Sardinia. The deployment of Infinera's solution across GARR's terrestrial network as well as over the submarine cable system operated by Sparkle strengthens GARR's high-performance optical backbone, facilitating high-speed collaboration between research institutions and universities at the national and international level. This expansion is funded b
SAN JOSE, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that SECOM is modernizing its middle-mile and business Ethernet access network using Infinera's XTM Series optical transport solution to bring new multi-gigabit broadband services to previously underserved rural southern Colorado communities. SECOM's enhanced network provides connectivity for thousands of customers, including homes, schools, libraries, government entities, telecoms, and businesses. SECOM, the wholly owned broadband subsidiary of Southeast Colorado Power Association (SECPA), a rural electric power cooperative, is one of the largest telecommunications service providers in the region,
SAN JOSE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today it is expanding its partnership with APRESIA Systems, Ltd. (APRESIA), a Japanese provider of network infrastructure solutions, through the integration of Infinera's software-programmable ICE-X coherent pluggables into APRESIA's portfolio of locally manufactured Layer 2/3 switching and optical transmission products. Infinera's ICE-X coherent pluggables will enable APRESIA to enhance its access network solutions and offer its customers increased operational value, including new revenue-generating services, reduced CapEx and OpEx, and maximized utilization of fiber assets. APRESIA, an Infinera resale p
Nokia CorporationInside Information 27 June 2024 at 23:50 EEST Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap Creates a highly scaled and truly global optical business with increased in-house technology capabilities and vertical integration.Strengthens Nokia's optical position, specifically in North America.Accelerates Nokia's customer diversification strategy, expanding webscale presence.Targeted net comparable operating profit synergies of EUR 200 million by 2027*.Expected to be accretive to Nokia's comparable operating profit and EPS in year 1 and to deliver over 10% comparable EPS accretion in 2027*.Offer split a
SAN JOSE, Calif., June 17, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today a successful multi-vendor demonstration of 5G mobile broadband xHaul using coherent open XR optics point-to-multipoint optical transmission. The multi-vendor interoperability testing, conducted with DZS and Calnex, represents a key step toward enabling mobile operators to greatly simplify and cost-reduce 5G and next-generation mobile transport network rollouts through the reduction of the number of optical transceivers, resulting in significant total cost of ownership savings. Hosted in the European Open Test & Integration Center in Torino by TIM, the high-capacity xHaul application testing included
SAN JOSE, Calif., June 12, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Digicel has deployed Infinera's GX Series, featuring Infinera's ICE6 800G and FlexILS solutions, to light the Deep Blue One subsea cable connecting French Guiana, Suriname, Guyana, and Trinidad and Tobago. The deployment offers service providers new, best-in-class connectivity to the southern Caribbean region. Deep Blue One is a new subsea cable system that spans 2,100 kilometers (km) in the Caribbean and Latin America region, providing connectivity to service providers and a direct route for offshore gas and oil rigs. Deep Blue One will connect to Southern Caribbean Fiber's existing subsea c
SAN JOSE, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that it received an expected delinquency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") on May 15, 2024 (the "Notice"). The Notice indicated that Infinera remains in noncompliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 30, 2024 (the "Form 10-Q"), as described more fully in Infinera's Form 12b-25 Notification of Late Filing (the "12b-25") filed with the Securities and Exchange Commission (the "SEC") on May 10, 2024. The Listing Ru
SAN JOSE, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that it will participate in the following webcasted investor conference: J.P. Morgan 2024 Global Technology, Media and Communications ConferenceDate: Wednesday, May 22, 2024Presentation: 8:40am EDT / 5:40am PDTSpeaker: Nancy Erba, CFOWebcast: investors.infinera.com and click on "Events" Contacts: Infinera Media:Anna VueTel. +1 (916) [email protected] Infinera Investors:Amitabh Passi, Head of Investor RelationsTel. +1 (669) [email protected] About InfineraInfinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable
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Rosenblatt downgraded Infinera from Buy to Neutral and set a new price target of $6.65 from $8.00 previously
Needham resumed coverage of Infinera with a rating of Buy and set a new price target of $10.00
Stifel initiated coverage of Infinera with a rating of Buy and set a new price target of $7.00
Jefferies upgraded Infinera from Underperform to Hold
MKM Partners resumed coverage of Infinera with a rating of Buy and set a new price target of $9.00
Rosenblatt initiated coverage of Infinera with a rating of Buy and set a new price target of $12.00
Loop Capital initiated coverage of Infinera with a rating of Hold and set a new price target of $9.00
B. Riley Securities upgraded Infinera from Neutral to Buy and set a new price target of $11.50 from $10.00 previously
JP Morgan downgraded Infinera from Neutral to Underweight and set a new price target of $9.00 from $11.00 previously
MKM Partners downgraded Infinera from Buy to Neutral
SAN JOSE, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Regan MacPherson has been named Chief Legal Officer and Corporate Secretary, effective May 18. Ms. MacPherson will report to Infinera Chief Executive Officer David Heard and will oversee the company's global legal strategy and corporate governance matters and policies. Ms. MacPherson succeeds David Teichmann, whose distinguished tenure with the company includes trusted and empathetic leadership during a period marked by challenging macro dynamics. Mr. Teichmann will remain with the company in an advisory role to ensure a smooth transition. "We are excited to welcome Regan to the Infinera tea
SAN JOSE, Calif., July 03, 2023 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Scotty Benda has joined Infinera as Senior Vice President of Worldwide Systems Engineering. In this role, Scotty will provide strategic leadership and direction for technical sales systems engineering within the global sales organization, further strengthening Infinera's industry-leading team of optical networking experts, advisors, and innovators. "With a focus on delivering unparalleled value to our customers with industry-leading open optical platforms and intelligent pluggable solutions, Scotty brings deep technical expertise, proven leadership, and a customer-centric approach aligned with
SAN JOSE, Calif., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) today announced the appointment to its board of directors of Roop Lakkaraju, Chief Financial Officer of Benchmark Electronics, Inc. (NYSE:BHE), effective February 16, 2022. Mr. Lakkaraju will serve as a member of Infinera's audit committee. "We are thrilled to have Roop join our board of directors," said George Riedel, Infinera Chairman of the Board. "By bringing more than 25 years of management experience in overall financial strategy, including as a public company chief financial officer, and his diversity of thinking and perspective, Roop will be a great asset to Infinera as we continue to focus every day on bui
Nokia CorporationInside Information 27 June 2024 at 23:50 EEST Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap Creates a highly scaled and truly global optical business with increased in-house technology capabilities and vertical integration.Strengthens Nokia's optical position, specifically in North America.Accelerates Nokia's customer diversification strategy, expanding webscale presence.Targeted net comparable operating profit synergies of EUR 200 million by 2027*.Expected to be accretive to Nokia's comparable operating profit and EPS in year 1 and to deliver over 10% comparable EPS accretion in 2027*.Offer split a
SAN JOSE, Calif., May 14, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released preliminary financial results for its first quarter ended March 30, 2024. Although presented with numerical specificity, all amounts in this press release are preliminary and based on management's current expectations as of the date of this press release. These results are subject to all aspects of the final quarterly review process and may change as a result of new information that arises, or new determinations that are made, in this process. GAAP revenue for the quarter was $306.9 million compared to $453.5 million in the fourth quarter of 2023 and $392.1 million in the first quarter of
SAN JOSE, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it will release its preliminary financial results for the first quarter of fiscal 2024 ended March 30, 2024, after the market closes on May 14, 2024. An investment community conference call to discuss these results and Infinera's outlook for the second quarter of fiscal 2024 will be held the same day at 5:00 p.m. ET/2:00 p.m. PT and will be accessible live and on an archived basis as follows: Preliminary First Quarter Financial Results Conference Call and Webcast Date: Tuesday, May 14, 2024Time: 5:00 p.m. ET/2:00 p.m. PT Conference call participants: register at https:/
WALTHAM, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Markforged Holding Corporation (NYSE:MKFG) (the "Company"), the company strengthening manufacturing resiliency by enabling industrial production at the point of need, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Results Compared To First Quarter 2023 Revenue was $20.5 million compared to $24.1 million.Gross margin was 49.3% compared to 48.1%.Non-GAAP gross margin was 51.3% compared to 49.3%.Operating expenses were $47.2 million, inclusive of a $17.3 million accrual related to the Continuous Composite judgment, compared to $33.1 million.Non-GAAP operating expenses were $24.1
SAN JOSE, Calif., May 06, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it expects to file its fiscal year 2023 Annual Report on Form 10-K on or before May 13, 2024. The company, along with its auditors, is continuing to make progress with the normal year-end close process. The company also announced that it expects to release its financial results for the first quarter of fiscal 2024 and outlook for the second quarter of fiscal 2024, after the market closes on May 14, 2024. Additional details on the investment community conference call to discuss these results will be made available at investors.infinera.com within the next week. Contacts: Media: Anna
SAN JOSE, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) ("Infinera" or the "Company") today released preliminary financial results for its fourth quarter ended December 30, 2023. For the fourth quarter, Preliminary revenue is expected to be $435 million to $452 million, compared to the Company's prior outlook of $421 million to $451 million.The resulting preliminary GAAP gross margin is expected to be 38.0% to 40.0%, compared to the Company's prior outlook of 37.3% to 40.4%.The resulting preliminary GAAP operating margin is expected to be 0.0% to 3.0%, compared to the Company's prior outlook of 0.7% to 5.0%.The resulting preliminary GAAP net income (loss)
SAN JOSE, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) ("Infinera" or the "Company") announced today that it intends to file its Quarterly Report on Form 10-Q for the third quarter of 2023 on or before February 29, 2024. The Company will also release its preliminary, unaudited financial results for the fourth quarter of fiscal 2023 and provide the Company's outlook for the first quarter of fiscal 2024 after the market closes on March 6, 2024. An investment community conference call to discuss these items will be held the same day at 5:00 p.m. ET/2:00 p.m. PT. Fourth Quarter Financial Results Conference Call and Webcast Date: Wednesday, March 6, 2024 Time:
SAN JOSE, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) (or "Company") today released preliminary financial results for its third quarter ended September 30, 2023. For the third quarter, Preliminary revenue is expected to be $378 million to $392 million, ahead of the midpoint of the Company's prior outlook of $361 million to $391 million.The resulting preliminary GAAP gross margin is expected to be 38.4% to 40.7%, ahead of the midpoint of the Company's prior outlook of 36% to 39%.The resulting preliminary GAAP operating margin is expected to be (1.4%) to 2.2%, ahead of the Company's prior outlook of (8%) to (3%).The resulting preliminary GAAP EPS is
SAN JOSE, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) announced today that it will release its financial results for the third quarter of fiscal 2023 ended September 30, 2023, after the market closes on November 8, 2023. An investment community conference call to discuss these results and Infinera's outlook for the fourth quarter of fiscal 2023 will be held the same day at 5:00 p.m. ET/2:00 p.m. PT and will be accessible live and on an archived basis as follows: Third Quarter Financial Results Conference Call and Webcast Date: Wednesday, November 8, 2023Time: 5:00 p.m. ET/2:00 p.m. PT Conference call participants: register at https://conferen
SAN JOSE, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released financial results for its second quarter ended July 1, 2023. GAAP revenue for the quarter was $376.2 million compared to $392.1 million in the first quarter of 2023 and $358.0 million in the second quarter of 2022. GAAP gross margin for the quarter was 38.0% compared to 37.5% in the first quarter of 2023 and 30.5% in the second quarter of 2022. GAAP operating margin for the quarter was (3.8)% compared to (2.4)% in the first quarter of 2023 and (11.1)% in the second quarter of 2022. GAAP net loss for the quarter was $(20.3) million, or $(0.09) per diluted share, compared to net loss of $