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

Infinera Co. (NASDAQ:INFN) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.09.

Several equities analysts have commented on INFN shares. 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 note on Tuesday, August 6th. B. Riley dropped their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Rosenblatt Securities restated a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th.

Institutional Trading of Infinera

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after buying an additional 2,025,658 shares during the period. Hood River Capital Management LLC raised its position in Infinera by 14.2% during the 2nd quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock worth $28,951,000 after buying an additional 591,611 shares during the last quarter. AIGH Capital Management LLC lifted its stake in shares of Infinera by 278.8% in 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 acquiring an additional 2,479,272 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Infinera by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after acquiring an additional 748,155 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Stock Down 0.1 %

NASDAQ:INFN opened at $6.70 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. Infinera has a 1 year low of $2.98 and a 1 year high of $6.92. The stock has a 50-day simple moving average of $6.62 and a 200-day simple moving average of $5.96.

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.