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

Stock analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a research report issued on Friday. The firm set a “sell” rating on the communications equipment provider’s stock.

Several other equities analysts have also commented on the company. Craig Hallum reissued a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Morgan Stanley boosted their target price on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a report on Friday, June 28th. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Finally, Berenberg Bank upgraded shares of Infinera to a “hold” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Trading Down 0.1 %

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

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business 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%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts predict that Infinera will post -0.17 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in shares of Infinera by 3.9% in 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 last quarter. Graypoint LLC raised its stake in Infinera by 8.7% during the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 2,438 shares during the last quarter. ProShare Advisors LLC lifted its position in Infinera by 8.5% during the 1st 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 during the period. Principal Financial Group Inc. grew its stake in shares of Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Infinera by 8.7% in the first 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 during the period. 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.