Infinera upgraded by B. Riley Securities with a new price target
$INFN
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B. Riley Securities upgraded Infinera from Neutral to Buy and set a new price target of $11.50 from $10.00 previously
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| 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 |
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SC 13G - Infinera Corp (0001138639) (Subject)
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SCHEDULE 13G - Infinera Corp (0001138639) (Subject)
10-Q - Infinera Corp (0001138639) (Filer)
8-K - Infinera Corp (0001138639) (Filer)
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
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:/
SAN JOSE, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ:INFN) today released financial results for its third quarter ended September 28, 2024. GAAP revenue for the quarter was $354.4 million compared to $342.7 million in the second quarter of 2024 and $392.4 million in the third quarter of 2023. GAAP gross margin for the quarter was 39.8% compared to 39.6% in the second quarter of 2024 and 40.3% in the third quarter of 2023. GAAP operating margin for the quarter was (3.1)% compared to (8.7)% in the second quarter of 2024 and 2.0% in the third quarter of 2023. GAAP net loss for the quarter was $(14.3) million, or $(0.06) per diluted share, compared to net loss of
SAN JOSE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93 million in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200 million in total federal incentives as well as potential state and local incentives. This proposed funding would support the expansion and modernization of both Infinera's semiconductor capabilities in Silicon Valley, California and its advanced test and packaging capabili
SAN JOSE, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Infinera (NASDAQ:INFN) announced today that Converge ICT Solutions Inc. (PSE: CNVRG), the leading fiber broadband and technology solutions provider in the Philippines, selected Infinera as its submarine line terminal equipment (SLTE) vendor for the fiber pairs over which Converge has been granted an Indefeasible Right of Use (IRU) on the Bifrost Cable System, using Infinera's industry-leading GX Series Compact Modular Platform and its next-generation high-performance 1.2T ICE7 optical engine. Additionally, Converge will use Infinera's solutions to modernize its nationwide terrestrial fiber network across the Philippines. Keppel and Conv
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
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