Infinera (NASDAQ:INFN) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research note published on Tuesday morning. The brokerage issued a sell rating on the communications equipment provider’s stock.

A number of other equities analysts have also commented on the company. Craig Hallum reissued a hold rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Needham & Company LLC reissued a hold rating on shares of Infinera in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a buy rating and set a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Morgan Stanley lifted their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a research note on Friday, June 28th. Finally, B. Riley decreased their target price on shares of Infinera from $9.00 to $6.65 and set a buy rating on the stock in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $7.09.

Infinera Stock Up 0.5 %

Shares of INFN opened at $6.24 on Tuesday. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $1.46 billion, a PE ratio of -18.35 and a beta of 1.64. The business’s 50 day moving average is $6.02 and its 200 day moving average is $5.51.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Research analysts expect that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC grew its stake in shares of Infinera by 278.8% during the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after buying an additional 2,479,272 shares during the last quarter. Vanguard Group Inc. increased its stake in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Infinera by 22.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after purchasing an additional 2,025,658 shares during the period. Water Island Capital LLC bought a new stake in shares of Infinera during the second quarter worth $9,196,000. Finally, Hood River Capital Management LLC boosted its stake in shares of Infinera by 52.5% during the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after purchasing an additional 1,432,016 shares during the period. Institutional investors own 97.54% of the company’s stock.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.