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

Equities researchers at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a note issued to investors on Saturday. The firm set a “sell” rating on the communications equipment provider’s stock.

Several other research firms also recently issued reports on INFN. Morgan Stanley upped their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th. JPMorgan Chase & Co. lifted their price objective on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. B. Riley reduced their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.75 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.85 and a beta of 1.71. Infinera has a twelve month low of $2.82 and a twelve month high of $6.92. The business has a 50 day simple moving average of $6.24 and a 200-day simple moving average of $5.73. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $342.70 million for 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, equities research analysts expect that Infinera will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

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

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.