Infinera Co. (NASDAQ:INFN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Infinera Co. (NASDAQ:INFN) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.32.

Several analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Infinera in a report on Thursday, May 16th. Stifel Nicolaus restated a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. Finally, B. Riley reaffirmed a “buy” rating and issued a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th.

Hedge Funds Weigh In On Infinera

Several hedge funds have recently bought and sold shares of INFN. Charles Schwab Investment Management Inc. boosted its stake in shares of Infinera by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,049 shares of the communications equipment provider’s stock worth $6,442,000 after acquiring an additional 69,024 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Infinera by 40.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,022 shares of the communications equipment provider’s stock valued at $1,087,000 after purchasing an additional 74,742 shares during the last quarter. Nomura Holdings Inc. raised its position in shares of Infinera by 36.5% in the third quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider’s stock valued at $1,913,000 after purchasing an additional 122,500 shares during the period. Shapiro Capital Management LLC lifted its stake in shares of Infinera by 1.5% in the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after buying an additional 293,787 shares during the last quarter. Finally, ASB Consultores LLC bought a new stake in shares of Infinera during the 3rd quarter worth $93,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Price Performance

Shares of NASDAQ:INFN opened at $5.26 on Friday. The company’s fifty day moving average is $5.26 and its two-hundred day moving average is $5.11. The company has a market cap of $1.23 billion, a P/E ratio of -15.47 and a beta of 1.58. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The business had revenue of $306.92 million for the quarter, compared to analyst estimates of $337.73 million. Equities analysts expect that Infinera will post -0.19 earnings per share for the current fiscal year.

Infinera Company Profile

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.