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

Infinera Co. (NASDAQ:INFN) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.09.

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. B. Riley dropped their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday.

Infinera Trading Down 0.1 %

Shares of INFN stock opened at $6.70 on Thursday. Infinera has a 1-year low of $2.98 and a 1-year high of $6.92. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The business’s fifty day moving average price is $6.62 and its 200 day moving average price is $5.96.

Institutional Investors Weigh In On Infinera

Institutional investors and hedge funds have recently bought and sold shares of the stock. Palumbo Wealth Management LLC raised its holdings in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after acquiring an additional 1,850 shares during the last quarter. Arizona State Retirement System raised its stake in Infinera by 3.9% in the 2nd 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 during the last quarter. Graypoint LLC raised its stake in Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 2,438 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after purchasing an additional 2,821 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 last quarter. Hedge funds and other institutional investors 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.