Infinera (NASDAQ:INFN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a report released on Saturday. The firm issued a sell rating on the communications equipment provider’s stock.

A number of other analysts have also issued reports on INFN. JPMorgan Chase & Co. increased their target price on Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Needham & Company LLC restated a hold rating on shares of Infinera in a research note on Friday, June 28th. B. Riley cut their price target on shares of Infinera from $9.00 to $6.65 and set a buy rating for the company in a research note on Monday, August 5th. Rosenblatt Securities downgraded shares of Infinera from a buy rating to a neutral rating and reduced their target price for the company from $8.00 to $6.65 in a research note on Monday, August 5th. Finally, Craig Hallum restated a hold rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Infinera has a consensus rating of Hold and an average target price of $7.09.

Infinera Trading Down 0.1 %

NASDAQ:INFN opened at $6.74 on Friday. Infinera has a one year low of $2.82 and a one year high of $6.92. 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 $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.72. The business’s 50-day simple moving average is $6.27 and its 200 day simple moving average is $5.76.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business 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% compared to the same quarter last year. As a group, sell-side analysts predict that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in shares of Infinera by 3.9% during the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after buying an additional 2,180 shares in the last quarter. Graypoint LLC increased its stake in shares of Infinera by 8.7% in the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 2,438 shares during the period. ProShare Advisors LLC raised its holdings in Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after buying an additional 2,821 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after acquiring an additional 3,725 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after acquiring an additional 3,800 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.