Infinera (NASDAQ:INFN) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Infinera (NASDAQ:INFN) in a research report sent to investors on Monday morning, StockNewsAPI reports. The firm issued a buy rating and a $10.00 target price on the communications equipment provider’s stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $7.00 price target on shares of Infinera in a report on Monday, April 1st. B. Riley reaffirmed a buy rating and issued a $7.50 price target on shares of Infinera in a report on Thursday, March 7th. Finally, StockNews.com cut shares of Infinera from a hold rating to a sell rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $6.85.

Infinera Stock Performance

NASDAQ:INFN opened at $4.97 on Monday. The stock’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $4.61. Infinera has a 1 year low of $2.82 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. The firm had revenue of $392.37 million for the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. On average, research analysts anticipate that Infinera will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INFN. Handelsbanken Fonder AB grew its stake in shares of Infinera by 12.1% during the fourth quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after buying an additional 5,100 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Infinera by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 5,661 shares during the last quarter. Swiss National Bank grew its stake in shares of Infinera by 1.3% during the third quarter. Swiss National Bank now owns 446,400 shares of the communications equipment provider’s stock valued at $1,866,000 after buying an additional 5,800 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Infinera by 53.8% during the fourth quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock valued at $90,000 after buying an additional 6,619 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Infinera by 8.7% during the third quarter. Barclays PLC now owns 82,810 shares of the communications equipment provider’s stock valued at $346,000 after buying an additional 6,628 shares during the last quarter. Institutional investors 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.