Infinera’s (INFN) “Hold” Rating Reiterated at Craig Hallum

Craig Hallum reaffirmed their hold rating on shares of Infinera (NASDAQ:INFN) in a research report report published on Monday morning, Benzinga reports. They currently have a $6.65 target price on the communications equipment provider’s stock, down from their previous target price of $12.00.

A number of other analysts also recently weighed in on the stock. B. Riley reissued a buy rating and issued a $9.00 price target on shares of Infinera in a report on Wednesday, May 15th. Morgan Stanley boosted their price target on Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research note on Friday, June 28th. Stifel Nicolaus reiterated a buy rating and issued a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Finally, Needham & Company LLC restated a hold rating on shares of Infinera in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $7.55.

Infinera Trading Up 1.0 %

Shares of NASDAQ:INFN opened at $6.26 on Monday. Infinera has a 52-week low of $2.82 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. The company has a market cap of $1.47 billion, a P/E ratio of -18.41 and a beta of 1.64. The stock’s 50-day moving average is $5.36 and its 200-day moving average is $5.15.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Hood River Capital Management LLC grew its stake in Infinera by 52.5% during the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after buying an additional 1,432,016 shares during the last quarter. Brown Advisory Inc. grew its stake in Infinera by 8.0% during the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after buying an additional 1,108,567 shares during the last quarter. AMH Equity Ltd acquired a new stake in shares of Infinera during the first quarter worth approximately $1,990,000. Finally, Kovack Advisors Inc. raised its stake in shares of Infinera by 39.4% in the first 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. 97.54% of the stock is owned by institutional investors.

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.