Infinera Corporation [NASDAQ: INFN] traded at a low on 08/15/22, posting a 0.00 loss after which it closed the day’ session at $5.63. The company report on August 8, 2022 that Infinera Completes $373.75 Million Convertible Senior Notes Offering and Repurchases Approximately $300 Million of 2024 Convertible Notes.
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Infinera (NASDAQ: INFN) announced today the closing of its previously announced offering of 3.75% convertible senior notes due 2028 (the “2028 Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). After the exercise in full of the option to purchase additional 2028 Notes, the aggregate principal amount of 2028 Notes issued in the offering was $373.75 million, with the Company receiving net proceeds (after fees and other expenses) of approximately $362.50 million.
The Company used approximately $283.62 million of the net proceeds from this offering to repurchase, including the payment of accrued and unpaid interest, approximately $300 million in aggregate principal amount of its 2.125% Convertible Senior Notes due 2024 in privately negotiated transactions concurrently with the offering. The company intends to use the remaining net proceeds from the 2028 Notes offering for general corporate purposes, including working capital and to fund growth opportunities and potential strategic projects.
The results of the trading session contributed to over 5714905 shares changing hands. Over the past one week, the price volatility of Infinera Corporation stands at 4.43% while the volatility over the past one month is 5.25%.
The market cap for INFN stock reached $1.16 billion, with 215.51 million shares outstanding and 214.15 million shares in the current float. Compared to the average trading volume of 2.82M shares, INFN reached a trading volume of 5714905 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Infinera Corporation [INFN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INFN shares is $8.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INFN stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
MKM Partners have made an estimate for Infinera Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2022. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on March 24, 2022, representing the official price target for Infinera Corporation stock. Previously, the target price had yet another raise to $9, while Loop Capital analysts kept a Hold rating on INFN stock. On January 24, 2022, analysts increased their price target for INFN shares from 10 to 11.50.
The Average True Range (ATR) for Infinera Corporation is set at 0.32, with the Price to Sales ratio for INFN stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 10.43, with the Price to Cash per share for the same quarter was set at 0.63.
How has INFN stock performed recently?
Infinera Corporation [INFN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.38. With this latest performance, INFN shares dropped by -3.60% in over the last four-week period, additionally sinking by -30.24% over the last 6 months – not to mention a drop of -35.58% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INFN stock in for the last two-week period is set at 49.41, with the RSI for the last a single of trading hit 50.88, and the three-weeks RSI is set at 48.69 for Infinera Corporation [INFN]. The present Moving Average for the last 50 days of trading for this stock 5.58, while it was recorded at 5.44 for the last single week of trading, and 7.50 for the last 200 days.
Infinera Corporation [INFN]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Infinera Corporation [INFN] shares currently have an operating margin of -5.06 and a Gross Margin at +33.82. Infinera Corporation’s Net Margin is presently recorded at -11.98.
Return on Equity for this stock declined to -45.54, with Return on Assets sitting at -10.29.
Infinera Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.
Earnings analysis for Infinera Corporation [INFN]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for INFN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Infinera Corporation go to 20.00%.
Insider trade positions for Infinera Corporation [INFN]
There are presently around $1,127 million, or 96.20% of INFN stock, in the hands of institutional investors. The top three institutional holders of INFN stocks are: FMR LLC with ownership of 32,279,237, which is approximately 1.259% of the company’s market cap and around 1.10% of the total institutional ownership; OAKTREE CAPITAL MANAGEMENT LP, holding 25,175,384 shares of the stock with an approximate value of $141.74 million in INFN stocks shares; and VANGUARD GROUP INC, currently with $100.53 million in INFN stock with ownership of nearly 0.527% of the company’s market capitalization.
Positions in Infinera Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 102 institutional holders increased their position in Infinera Corporation [NASDAQ:INFN] by around 17,357,411 shares. Additionally, 92 investors decreased positions by around 16,682,509 shares, while 34 investors held positions by with 166,062,523 shares. The mentioned changes placed institutional holdings at 200,102,443 shares, according to the latest SEC report filing. INFN stock had 27 new institutional investments in for a total of 2,533,619 shares, while 33 institutional investors sold positions of 1,931,176 shares during the same period.