Infinera (NASDAQ:INFN) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Infinera (NASDAQ:INFN) in a research note published on Friday, Marketbeat.com reports.

Other equities research analysts have also recently issued reports about the company. B. Riley reaffirmed a buy rating and issued a $9.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. Stifel Nicolaus reiterated a buy rating and set a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $7.55.

Infinera Stock Performance

Shares of Infinera stock opened at $6.11 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of -17.97 and a beta of 1.64. 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 52 week low of $2.82 and a 52 week high of $6.62. The business’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.13.

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

Institutional Investors Weigh In On Infinera

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 buying an additional 2,299,025 shares during the period. Hood River Capital Management LLC grew its holdings in Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after acquiring an additional 1,432,016 shares in the last quarter. Brown Advisory Inc. grew its holdings in Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after acquiring an additional 1,108,567 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of Infinera in the 1st quarter valued at approximately $1,990,000. Finally, Shapiro Capital Management LLC raised its holdings in shares of Infinera by 1.5% in the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock valued at $80,556,000 after purchasing an additional 293,787 shares in the last quarter. 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.