Infinera (NASDAQ:INFN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a report published on Friday. The brokerage issued a sell rating on the communications equipment provider’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley lifted their target price on shares of Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a report on Friday, June 28th. Craig Hallum restated a hold rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Berenberg Bank upgraded shares of Infinera to a hold rating in a research report on Monday, August 5th. Needham & Company LLC restated a hold rating on shares of Infinera in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an underweight rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Infinera currently has an average rating of Hold and an average target price of $7.09.

Infinera Stock Down 0.1 %

INFN opened at $6.78 on Friday. The business has a 50 day moving average of $6.18 and a 200-day moving average of $5.68. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -19.94 and a beta of 1.71. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. Infinera has a 1-year low of $2.82 and a 1-year high of $6.92.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Infinera will post -0.17 earnings per share for the current year.

Institutional Trading of Infinera

A number of hedge funds and other institutional investors have recently modified their holdings of INFN. Charles Schwab Investment Management Inc. increased its position in Infinera by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock valued at $7,489,000 after acquiring an additional 35,676 shares during the period. Partners Capital Investment Group LLP acquired a new stake in Infinera in the fourth quarter valued at $48,000. Wellington Wealth Strategies LLC. bought a new position in Infinera during the 4th quarter worth $190,000. Vanguard Group Inc. lifted its holdings in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after buying an additional 469,315 shares during the period. Finally, Kovack Advisors Inc. grew its position in shares of Infinera by 39.4% in the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after buying an additional 154,904 shares during the last quarter. 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.