Infinera (NASDAQ:INFN) PT Raised to $6.00 at JPMorgan Chase & Co.

Infinera (NASDAQ:INFN) had its price objective lifted by JPMorgan Chase & Co. from $5.00 to $6.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.45% from the company’s previous close.

Several other analysts also recently commented on INFN. Craig Hallum reiterated a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.00 to $6.65 in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research note on Friday, June 28th. StockNews.com assumed coverage on shares of Infinera in a research note on Friday, August 2nd. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Down 1.7 %

Shares of NASDAQ:INFN opened at $5.69 on Tuesday. The firm has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $5.37. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62. The company has a market capitalization of $1.33 billion, a PE ratio of -16.74 and a beta of 1.64. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The firm had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities analysts predict that Infinera will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after purchasing an additional 2,180 shares during the period. Graypoint LLC grew its stake in shares of Infinera by 8.7% during the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 2,438 shares during the period. ProShare Advisors LLC grew its stake in shares of 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 purchasing an additional 2,821 shares during the period. Principal Financial Group Inc. grew its stake in shares of Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 3,725 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after buying an additional 3,800 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.