Infinera (NASDAQ:INFN) Price Target Raised to $6.65 at Morgan Stanley

Infinera (NASDAQ:INFN) had its price objective upped by Morgan Stanley from $5.40 to $6.65 in a report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the communications equipment provider’s stock.

INFN has been the topic of a number of other reports. Needham & Company LLC reissued a hold rating on shares of Infinera in a research note on Friday. Stifel Nicolaus reissued a buy rating and set a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Finally, B. Riley reissued a buy rating and set a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $7.73.

Infinera Stock Performance

NASDAQ:INFN opened at $6.09 on Friday. The stock’s 50-day simple moving average is $5.28 and its 200 day simple moving average is $5.12. The firm has a market capitalization of $1.43 billion, a PE ratio of -17.91 and a beta of 1.58. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62.

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

Hedge Funds Weigh In On Infinera

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after acquiring an additional 2,299,025 shares during the last quarter. Shapiro Capital Management LLC raised its position in shares of Infinera by 1.5% during the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after acquiring an additional 293,787 shares during the last quarter. Brown Advisory Inc. increased its holdings in Infinera by 8.0% in the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after purchasing an additional 1,108,567 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Infinera by 52.5% in 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 purchasing an additional 1,432,016 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Infinera by 2.3% in the fourth 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 in the last quarter. 97.54% of the stock is currently 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.