Infinera Corp. (NASDAQ: INFN) Stock Forecast: An Analysis

In the last trading session, 2.37 million Infinera Corp. (NASDAQ:INFN) shares changed hands as the company’s beta touched 1.55. With the company’s per share price at $4.22 changed hands at -$0.05 or -1.17% during last session, the market valuation stood at $957.60M. INFN’s last price was a discount, traded about -84.83% off its 52-week high of $7.80. The share price had its 52-week low at $2.82, which suggests the last value was 33.18% up since then. When we look at Infinera Corp.’s average trading volume, we note the 10-day average is 4.04 million shares, with the 3-month average coming to 2.21 million.

Infinera Corp. (NASDAQ:INFN) trade information

Instantly INFN was in red as seen at the end of in last trading. With action 6.57%, the performance over the past five days has been green. The drop to weekly highs of 4.59 on Monday, 11/20/23 subtracted -1.17% to the stock’s daily price. The company’s shares are showing year-to-date downside of -37.39%, with the 5-day performance at 6.57% in the green. However, in the 30-day time frame, Infinera Corp. (NASDAQ:INFN) is 29.85% up. Looking at the short shares, we see there were 44.92 million shares sold at short interest cover period of 25.17 days.

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Infinera Corp. (INFN) estimates and forecasts

Data shows that the Infinera Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -14.75% over the past 6 months, a 8.33% in annual growth rate that is considerably lower than the industry average of 9.20%. Year-over-year growth is forecast to reach 1.00% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $383.86 million. 9 analysts are of the opinion that Infinera Corp.’s revenue for the quarter ending Dec 2023 will be $436.88 million. The company’s revenue for the corresponding quarters a year ago was $390.45 million and $485.94 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.70%. The estimates for the next quarter sales put growth at -10.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.26%. The 2023 estimates are for Infinera Corp. earnings to increase by 33.33%, but the outlook for the next 5-year period is at 20.00% per year.

INFN Dividends

Infinera Corp. is expected to release its next quarterly earnings report on November 08.

Infinera Corp. (NASDAQ:INFN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.49% of Infinera Corp. shares while 105.50% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 107.10%. There are 105.50% institutions holding the Infinera Corp. stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 14.91% of the shares, roughly 33.84 million INFN shares worth $163.46 million.

Oaktree Capital Management Lp holds the second largest percentage of outstanding shares, with 11.09% or 25.18 million shares worth $121.6 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. With 10.61 million shares estimated at $49.64 million under it, the former controlled 4.67% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.57% of the shares, roughly 5.83 million shares worth around $28.16 million.

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