Intrinsic value of Infinera - INFN

Previous Close

$5.02

  Intrinsic Value

$0.62

stock screener

  Rating & Target

str. sell

-88%

Previous close

$5.02

 
Intrinsic value

$0.62

 
Up/down potential

-88%

 
Rating

str. sell

We calculate the intrinsic value of INFN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  17.80
  16.52
  15.37
  14.33
  13.40
  12.56
  11.80
  11.12
  10.51
  9.96
  9.46
  9.02
  8.62
  8.25
  7.93
  7.64
  7.37
  7.13
  6.92
  6.73
  6.56
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
Revenue, $m
  873
  1,017
  1,173
  1,341
  1,521
  1,712
  1,914
  2,127
  2,350
  2,584
  2,829
  3,084
  3,349
  3,626
  3,913
  4,212
  4,523
  4,845
  5,181
  5,529
  5,892
  6,269
  6,662
  7,070
  7,496
  7,940
  8,402
  8,885
  9,389
  9,915
Variable operating expenses, $m
  894
  1,037
  1,191
  1,358
  1,536
  1,725
  1,926
  2,137
  2,358
  2,590
  2,804
  3,057
  3,320
  3,594
  3,879
  4,175
  4,483
  4,803
  5,135
  5,480
  5,840
  6,214
  6,603
  7,008
  7,430
  7,869
  8,328
  8,806
  9,305
  9,827
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  894
  1,037
  1,191
  1,358
  1,536
  1,725
  1,926
  2,137
  2,358
  2,590
  2,804
  3,057
  3,320
  3,594
  3,879
  4,175
  4,483
  4,803
  5,135
  5,480
  5,840
  6,214
  6,603
  7,008
  7,430
  7,869
  8,328
  8,806
  9,305
  9,827
Operating income, $m
  -21
  -20
  -18
  -17
  -15
  -14
  -12
  -10
  -8
  -6
  25
  27
  30
  32
  35
  37
  40
  43
  46
  49
  52
  56
  59
  63
  66
  70
  74
  79
  83
  88
EBITDA, $m
  59
  69
  79
  90
  103
  115
  129
  143
  158
  174
  191
  208
  226
  244
  264
  284
  305
  327
  349
  373
  397
  423
  449
  477
  505
  535
  567
  599
  633
  668
Interest expense (income), $m
  3
  15
  22
  30
  39
  49
  59
  70
  81
  94
  106
  120
  134
  148
  163
  179
  195
  212
  230
  249
  268
  288
  308
  330
  352
  375
  400
  425
  451
  479
  508
Earnings before tax, $m
  -36
  -42
  -49
  -56
  -64
  -73
  -82
  -91
  -102
  -112
  -95
  -106
  -119
  -131
  -144
  -158
  -172
  -187
  -203
  -219
  -235
  -253
  -271
  -290
  -309
  -329
  -351
  -373
  -396
  -420
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -36
  -42
  -49
  -56
  -64
  -73
  -82
  -91
  -102
  -112
  -95
  -106
  -119
  -131
  -144
  -158
  -172
  -187
  -203
  -219
  -235
  -253
  -271
  -290
  -309
  -329
  -351
  -373
  -396
  -420

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,276
  1,486
  1,715
  1,961
  2,223
  2,503
  2,798
  3,109
  3,436
  3,778
  4,136
  4,509
  4,897
  5,301
  5,721
  6,158
  6,612
  7,084
  7,574
  8,084
  8,614
  9,165
  9,739
  10,337
  10,959
  11,608
  12,284
  12,990
  13,726
  14,495
Adjusted assets (=assets-cash), $m
  1,276
  1,486
  1,715
  1,961
  2,223
  2,503
  2,798
  3,109
  3,436
  3,778
  4,136
  4,509
  4,897
  5,301
  5,721
  6,158
  6,612
  7,084
  7,574
  8,084
  8,614
  9,165
  9,739
  10,337
  10,959
  11,608
  12,284
  12,990
  13,726
  14,495
Revenue / Adjusted assets
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
  0.684
Average production assets, $m
  322
  375
  433
  495
  561
  632
  706
  785
  867
  954
  1,044
  1,138
  1,236
  1,338
  1,444
  1,554
  1,669
  1,788
  1,912
  2,040
  2,174
  2,313
  2,458
  2,609
  2,766
  2,930
  3,100
  3,279
  3,464
  3,658
Working capital, $m
  181
  211
  244
  279
  316
  356
  398
  442
  489
  538
  588
  641
  697
  754
  814
  876
  941
  1,008
  1,078
  1,150
  1,226
  1,304
  1,386
  1,471
  1,559
  1,651
  1,748
  1,848
  1,953
  2,062
Total debt, $m
  219
  301
  389
  484
  585
  693
  807
  927
  1,053
  1,185
  1,323
  1,467
  1,617
  1,773
  1,935
  2,104
  2,279
  2,461
  2,650
  2,847
  3,052
  3,265
  3,486
  3,717
  3,957
  4,207
  4,468
  4,741
  5,025
  5,322
Total liabilities, $m
  492
  574
  662
  757
  858
  966
  1,080
  1,200
  1,326
  1,458
  1,596
  1,740
  1,890
  2,046
  2,208
  2,377
  2,552
  2,734
  2,924
  3,120
  3,325
  3,538
  3,759
  3,990
  4,230
  4,481
  4,742
  5,014
  5,298
  5,595
Total equity, $m
  783
  913
  1,053
  1,204
  1,365
  1,537
  1,718
  1,909
  2,110
  2,320
  2,539
  2,768
  3,007
  3,255
  3,513
  3,781
  4,060
  4,350
  4,651
  4,964
  5,289
  5,627
  5,980
  6,347
  6,729
  7,127
  7,542
  7,976
  8,428
  8,900
Total liabilities and equity, $m
  1,275
  1,487
  1,715
  1,961
  2,223
  2,503
  2,798
  3,109
  3,436
  3,778
  4,135
  4,508
  4,897
  5,301
  5,721
  6,158
  6,612
  7,084
  7,575
  8,084
  8,614
  9,165
  9,739
  10,337
  10,959
  11,608
  12,284
  12,990
  13,726
  14,495
Debt-to-equity ratio
  0.280
  0.330
  0.370
  0.400
  0.430
  0.450
  0.470
  0.490
  0.500
  0.510
  0.520
  0.530
  0.540
  0.540
  0.550
  0.560
  0.560
  0.570
  0.570
  0.570
  0.580
  0.580
  0.580
  0.590
  0.590
  0.590
  0.590
  0.590
  0.600
  0.600
Adjusted equity ratio
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614
  0.614

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -36
  -42
  -49
  -56
  -64
  -73
  -82
  -91
  -102
  -112
  -95
  -106
  -119
  -131
  -144
  -158
  -172
  -187
  -203
  -219
  -235
  -253
  -271
  -290
  -309
  -329
  -351
  -373
  -396
  -420
Depreciation, amort., depletion, $m
  80
  88
  97
  107
  118
  129
  141
  153
  166
  180
  166
  181
  196
  212
  229
  247
  265
  284
  303
  324
  345
  367
  390
  414
  439
  465
  492
  520
  550
  581
Funds from operations, $m
  44
  46
  49
  51
  54
  56
  59
  62
  65
  68
  71
  74
  78
  81
  85
  89
  92
  97
  101
  105
  110
  114
  119
  125
  130
  136
  142
  148
  154
  161
Change in working capital, $m
  27
  30
  33
  35
  37
  40
  42
  44
  46
  49
  51
  53
  55
  58
  60
  62
  65
  67
  70
  73
  75
  78
  82
  85
  89
  92
  96
  100
  105
  109
Cash from operations, $m
  17
  16
  16
  16
  16
  17
  17
  18
  18
  19
  20
  21
  22
  24
  25
  26
  28
  29
  31
  33
  34
  36
  38
  40
  41
  43
  45
  47
  49
  52
Maintenance CAPEX, $m
  -43
  -51
  -60
  -69
  -79
  -89
  -100
  -112
  -125
  -138
  -151
  -166
  -181
  -196
  -212
  -229
  -247
  -265
  -284
  -303
  -324
  -345
  -367
  -390
  -414
  -439
  -465
  -492
  -520
  -550
New CAPEX, $m
  -48
  -53
  -58
  -62
  -66
  -70
  -75
  -79
  -82
  -86
  -90
  -94
  -98
  -102
  -106
  -110
  -115
  -119
  -124
  -129
  -134
  -139
  -145
  -151
  -157
  -164
  -171
  -178
  -186
  -194
Cash from investing activities, $m
  -91
  -104
  -118
  -131
  -145
  -159
  -175
  -191
  -207
  -224
  -241
  -260
  -279
  -298
  -318
  -339
  -362
  -384
  -408
  -432
  -458
  -484
  -512
  -541
  -571
  -603
  -636
  -670
  -706
  -744
Free cash flow, $m
  -75
  -88
  -101
  -115
  -129
  -143
  -158
  -173
  -189
  -205
  -221
  -239
  -256
  -275
  -293
  -313
  -333
  -355
  -377
  -399
  -423
  -448
  -474
  -501
  -530
  -559
  -590
  -623
  -657
  -692
Issuance/(repayment) of debt, $m
  74
  81
  88
  95
  101
  108
  114
  120
  126
  132
  138
  144
  150
  156
  162
  169
  175
  182
  189
  197
  205
  213
  221
  231
  240
  250
  261
  272
  284
  297
Issuance/(repurchase) of shares, $m
  154
  171
  189
  207
  225
  244
  263
  283
  302
  322
  314
  335
  357
  379
  402
  426
  451
  477
  504
  532
  561
  591
  623
  656
  691
  728
  766
  806
  848
  892
Cash from financing (excl. dividends), $m  
  228
  252
  277
  302
  326
  352
  377
  403
  428
  454
  452
  479
  507
  535
  564
  595
  626
  659
  693
  729
  766
  804
  844
  887
  931
  978
  1,027
  1,078
  1,132
  1,189
Total cash flow (excl. dividends), $m
  153
  165
  176
  187
  198
  209
  219
  230
  240
  250
  231
  241
  251
  261
  271
  282
  293
  304
  316
  329
  342
  356
  370
  386
  402
  419
  437
  455
  475
  496
Retained Cash Flow (-), $m
  -154
  -171
  -189
  -207
  -225
  -244
  -263
  -283
  -302
  -322
  -314
  -335
  -357
  -379
  -402
  -426
  -451
  -477
  -504
  -532
  -561
  -591
  -623
  -656
  -691
  -728
  -766
  -806
  -848
  -892
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -1
  -7
  -13
  -20
  -27
  -35
  -44
  -53
  -63
  -73
  -83
  -95
  -106
  -119
  -131
  -144
  -158
  -172
  -187
  -203
  -219
  -235
  -253
  -271
  -289
  -309
  -329
  -350
  -373
  -396
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -1
  -6
  -11
  -16
  -21
  -26
  -30
  -33
  -36
  -38
  -40
  -40
  -40
  -40
  -39
  -37
  -34
  -32
  -29
  -26
  -23
  -20
  -17
  -14
  -11
  -9
  -7
  -5
  -4
  -3
Current shareholders' claim on cash, %
  83.3
  70.1
  59.4
  50.8
  43.7
  37.8
  32.9
  28.8
  25.3
  22.4
  20.0
  18.0
  16.2
  14.6
  13.2
  11.9
  10.8
  9.8
  8.9
  8.1
  7.4
  6.7
  6.1
  5.6
  5.1
  4.7
  4.3
  3.9
  3.6
  3.3

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe. The Company's portfolio consists of the Infinera DTN-X Family, the Infinera DTN platform, the Infinera Cloud Xpress Family, the Infinera XTM Series, the Infinera XTG Series and the Infinera FlexILS platform, addressing long-haul, subsea and metro networks end-to-end. Its technology includes Infinera Intelligent Transport Network Architecture, Infinera Photonic Integrated Circuits, Infinera FlexCoherent Processor, Super-Channels, Sliceable Photonics, Disaggregation, Integrated Digital Switching, Infinera Instant Bandwidth, Infinera Packet-Optical Transport, Multi-layer Switching and Optimization, and Management, Control and Security.

FINANCIAL RATIOS  of  Infinera (INFN)

Valuation Ratios
P/E Ratio -30.3
Price to Sales 0.8
Price to Book 1
Price to Tangible Book
Price to Cash Flow 19.2
Price to Free Cash Flow -145.6
Growth Rates
Sales Growth Rate -1.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 2.4%
Cap. Spend. - 3 Yr. Gr. Rate 15.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 17.6%
Total Debt to Equity 17.6%
Interest Coverage -9
Management Effectiveness
Return On Assets -1.8%
Ret/ On Assets - 3 Yr. Avg. 1.9%
Return On Total Capital -2.7%
Ret/ On T. Cap. - 3 Yr. Avg. 2.2%
Return On Equity -3.1%
Return On Equity - 3 Yr. Avg. 2.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 45.3%
Gross Margin - 3 Yr. Avg. 44.6%
EBITDA Margin 4%
EBITDA Margin - 3 Yr. Avg. 7%
Operating Margin -3%
Oper. Margin - 3 Yr. Avg. 2.6%
Pre-Tax Margin -3.3%
Pre-Tax Margin - 3 Yr. Avg. 1.6%
Net Profit Margin -2.8%
Net Profit Margin - 3 Yr. Avg. 1.7%
Effective Tax Rate 17.2%
Eff/ Tax Rate - 3 Yr. Avg. 10.6%
Payout Ratio 0%

INFN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INFN stock intrinsic value calculation we used $740.739 million for the last fiscal year's total revenue generated by Infinera. The default revenue input number comes from 0001 income statement of Infinera. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our INFN stock valuation model: a) initial revenue growth rate of 17.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for INFN is calculated based on our internal credit rating of Infinera, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Infinera.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of INFN stock the variable cost ratio is equal to 103%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for INFN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 10.1% for Infinera.

Corporate tax rate of 27% is the nominal tax rate for Infinera. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the INFN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for INFN are equal to 36.9%.

Life of production assets of 6.3 years is the average useful life of capital assets used in Infinera operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for INFN is equal to 20.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $665.365 million for Infinera - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 152.99 million for Infinera is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Infinera at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ IBD Stock Of The Day: Paying Attention To Ciena Supplier And Rival   [Nov-09-18 04:20PM  Investor's Business Daily]
▶ Infinera stock plummets 32% on disappointing Q3 results, outlook   [Nov-07-18 03:38PM  American City Business Journals]
▶ Infinera: 3Q Earnings Snapshot   [04:33PM  Associated Press]
▶ IBD Stock Of The Day: Ciena Builds Relative Strength Amid Tech Woes   [Oct-18-18 04:47PM  Investor's Business Daily]
▶ Why Infinera Stock Lost 18% in September   [Oct-09-18 10:07AM  Motley Fool]
▶ TalkTalk Expands UK Metro Network with Infinera   [Oct-08-18 08:00AM  GlobeNewswire]
▶ Why Infinera, Akorn, and Cal-Maine Foods Slumped Today   [Oct-01-18 04:49PM  Motley Fool]
▶ Infinera Comments on Recent Market Report   [02:13PM  GlobeNewswire]
▶ Here's Why Infinera Is Tanking Today   [11:25AM  Motley Fool]
▶ Why Infinera Corp. Shares Fell 10% Today   [Sep-06-18 05:00PM  Motley Fool]
▶ Infinera to Participate in Upcoming Investor Conference   [Aug-27-18 04:30PM  GlobeNewswire]
▶ Infinera's Turnaround Continues to Take Hold   [Aug-08-18 03:45PM  Motley Fool]
▶ Infinera: 2Q Earnings Snapshot   [06:03PM  Associated Press]
▶ 4 Reasons Infinera is Buying Coriant for $430 Million   [Jul-25-18 05:40PM  Motley Fool]
▶ Why Infinera Stock Is Soaring Today   [Jul-24-18 10:55AM  Motley Fool]
▶ Better Buy: Infinera Corporation vs. Skyworks Solutions   [Jul-08-18 11:30AM  Motley Fool]
▶ Is Infinera Corporation a Buy?   [May-22-18 08:07AM  Motley Fool]
▶ Infinera Stock Rebounds After Earnings Sell-Off   [May-11-18 03:43PM  Motley Fool]
▶ Infinera Stock Plunges On Pricing Pressure Worries, Ciena Falls Too   [May-10-18 04:50PM  Investor's Business Daily]
▶ Why Infinera Is Tumbling Today   [12:04PM  Motley Fool]
▶ Infinera: 1Q Earnings Snapshot   [May-09-18 04:46PM  Associated Press]
▶ Why Infinera Corporation Stock Popped 53.8% in February   [Mar-13-18 10:00AM  Motley Fool]
▶ RETN Deploys Infinera XT-3300 for International Network   [Mar-07-18 08:00AM  GlobeNewswire]
▶ Ciena earnings beat boosts shares of Finisar, Infinera   [Mar-06-18 12:13PM  MarketWatch]
▶ Infinera to Host Investor Briefing at OFC 2018   [Mar-05-18 04:30PM  GlobeNewswire]
▶ Infinera Projects Optimism After Posting Solid Results   [Feb-09-18 08:45AM  Motley Fool]
▶ Silicon Valley stocks hammered again as Dow plunges 1,000 points   [Feb-08-18 05:34PM  American City Business Journals]
▶ Here's Why Infinera Is Flying High Today   [04:03PM  Motley Fool]
▶ Why Infinera Is Soaring Despite a Loss   [10:15AM  24/7 Wall St.]

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