Brokerages Set Infinera Co. (NASDAQ:INFN) PT at $7.09

Shares of Infinera Co. (NASDAQ:INFN) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.09.

INFN has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th.

Infinera Price Performance

Shares of NASDAQ:INFN opened at $6.61 on Monday. Infinera has a 12 month low of $3.79 and a 12 month high of $6.92. The company’s 50-day moving average price is $6.71 and its two-hundred day moving average price is $6.13. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The firm has a market cap of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.71.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. As a group, research analysts forecast that Infinera will post -0.25 EPS for the current fiscal year.

Institutional Trading of Infinera

Several hedge funds have recently bought and sold shares of INFN. Citigroup Inc. raised its holdings in Infinera by 2,104.8% during the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after buying an additional 2,782,789 shares during the period. AIGH Capital Management LLC raised its holdings in Infinera by 278.8% during the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after buying an additional 2,479,272 shares during the period. Vanguard Group Inc. raised its holdings in Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after buying an additional 2,299,025 shares during the period. Alpine Associates Management Inc. acquired a new stake in Infinera during the 3rd quarter worth approximately $13,761,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after buying an additional 2,025,658 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.