Infinera (NASDAQ:INFN) Receives New Coverage from Analysts at StockNews.com

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

Other analysts have also issued research reports about the company. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $6.65 in a report on Monday, August 5th. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target 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. Finally, B. Riley cut their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Down 0.1 %

INFN stock opened at $6.78 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The company’s 50-day moving average price is $6.18 and its 200 day moving average price is $5.68. Infinera has a 52 week low of $2.82 and a 52 week high of $6.92. The company has a market cap of $1.59 billion, a P/E ratio of -19.94 and a beta of 1.71.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. Infinera’s revenue was down 8.9% on a year-over-year basis. On average, research analysts expect that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Infinera

A number of hedge funds have recently bought and sold shares of INFN. Charles Schwab Investment Management Inc. lifted its stake in shares of Infinera by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock worth $7,489,000 after purchasing an additional 35,676 shares during the period. Partners Capital Investment Group LLP acquired a new stake in Infinera in the 4th quarter worth about $48,000. Wellington Wealth Strategies LLC. acquired a new stake in Infinera in the 4th quarter worth about $190,000. Vanguard Group Inc. grew its holdings in Infinera by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock valued at $117,564,000 after buying an additional 469,315 shares during the period. Finally, Kovack Advisors Inc. increased its stake in shares of Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after acquiring an additional 154,904 shares during the last quarter. Institutional investors and hedge funds 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.