Infinera (NASDAQ:INFN) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report released on Thursday. The brokerage set a “sell” rating on the communications equipment provider’s stock.

INFN has been the topic of a number of other research reports. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. 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. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Finally, Morgan Stanley lifted their target price on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.70 on Thursday. The firm’s fifty day moving average price is $6.09 and its 200-day moving average price is $5.59. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The stock has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.71. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.76.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $342.70 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts expect that Infinera will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of hedge funds have recently modified their holdings of INFN. Arizona State Retirement System boosted its stake in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after purchasing an additional 2,180 shares in the last quarter. Graypoint LLC boosted its stake in shares of Infinera by 8.7% during the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 2,438 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Infinera by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after purchasing an additional 2,821 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Infinera by 8.7% during the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 3,800 shares in the last quarter. Hedge funds and other 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.