Infinera Co. (NASDAQ:INFN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Infinera Co. (NASDAQ:INFN) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.09.

A number of equities research analysts have recently commented on INFN shares. Morgan Stanley lifted 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. StockNews.com initiated coverage on shares of Infinera in a research note on Sunday, August 18th. They issued a “sell” rating on the stock. B. Riley decreased their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. Berenberg Bank upgraded Infinera to a “hold” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th.

Infinera Trading Up 1.0 %

Shares of INFN stock opened at $6.07 on Friday. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -17.79 and a beta of 1.64. Infinera has a 52-week low of $2.82 and a 52-week high of $6.62. The company has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $5.43.

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

Institutional Investors Weigh In On Infinera

A number of hedge funds and other institutional investors have recently bought and sold shares of INFN. Arizona State Retirement System grew its position 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 purchasing an additional 2,180 shares in the last quarter. Graypoint LLC grew its holdings 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 buying an additional 2,438 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Infinera by 8.5% during the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after buying an additional 2,821 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 3,725 shares in the last quarter. Finally, Blair William & Co. IL boosted its position 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 acquiring an additional 3,800 shares during the period. Institutional investors own 97.54% of the company’s stock.

Infinera Company Profile

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.