Infinera Corp. (NASDAQ: INFN) At Current Prices: Is It Worth Investing In?

During the last session, Infinera Corp. (NASDAQ:INFN)’s traded shares were 6.78 million, with the beta value of the company hitting 1.59. At the end of the trading day, the stock’s price was $6.25, reflecting an intraday gain of 6.47% or $0.38. The 52-week high for the INFN share is $7.73, that puts it down -23.68 from that peak though still a striking 54.88% gain since the share price plummeted to a 52-week low of $2.82. The company’s market capitalization is $1.45B, and the average intraday trading volume over the past 10 days was 5.47 million shares, and the average trade volume was 3.35 million shares over the past three months.

Infinera Corp. (NASDAQ:INFN) trade information

Infinera Corp. (INFN) registered a 6.47% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.47% in intraday trading to $6.25, hitting a weekly high. The stock’s 5-day price performance is 22.55%, and it has moved by 16.39% in 30 days. Based on these gigs, the overall price performance for the year is -19.46%. The short interest in Infinera Corp. (NASDAQ:INFN) is 45.83 million shares and it means that shorts have 12.74 day(s) to cover.

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Infinera Corp. (INFN) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -37.50% this quarter and then drop -533.30% in the quarter after that. In the rating firms’ projections, revenue will increase 1.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $443.63 million as predicted by 8 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $336.99 million by the end of Mar 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 23.26%. While earnings are projected to return 14.56% in 2024, the next five years will return 20.00% per annum.

INFN Dividends

Infinera Corp. is due to release its next quarterly earnings between May 01 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Infinera Corp. insiders own 1.55% of total outstanding shares while institutional holders control 101.03%, with the float percentage being 102.62%. FMR, LLC is the largest shareholder of the company, while 268 institutions own stock in it. As of Jun 29, 2023, the company held over 33.84 million shares (or 14.91% of all shares), a total value of $163.46 million in shares.

The next largest institutional holding, with 25.18 million shares, is of Oaktree Capital Management Lp’s that is approximately 11.09% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $121.6 million.

Also, the Mutual Funds coming in first place with the largest holdings of Infinera Corp. (INFN) shares are Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. Data provided on Aug 30, 2023 indicates that Fidelity Growth Company Fund owns about 10.61 million shares. This amounts to just over 4.67 percent of the company’s overall shares, with a $49.64 million market value. The same data shows that the other fund manager holds slightly less at 5.83 million, or about 2.57% of the stock, which is worth about $28.16 million.