Infinera Co. (NASDAQ:INFN) Receives $7.09 Consensus Target Price from Analysts

Shares of Infinera Co. (NASDAQ:INFN) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.09.

A number of equities research analysts have recently weighed in on INFN shares. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 target price on shares of Infinera in a report on Wednesday, November 6th.

Infinera Price Performance

NASDAQ:INFN opened at $6.61 on Monday. The stock has a 50-day simple moving average of $6.71 and a 200 day simple moving average of $6.15. Infinera has a 52-week low of $3.79 and a 52-week high of $6.92. The company has a market cap of $1.57 billion, a PE ratio of -13.77 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, sell-side analysts expect that Infinera will post -0.25 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. lifted its stake in shares of Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares during the period. AIGH Capital Management LLC boosted its holdings in shares of Infinera by 278.8% during the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after buying an additional 2,479,272 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Infinera by 9.3% during the 1st 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. Alpine Associates Management Inc. bought a new stake in shares of Infinera in the 3rd quarter valued at $13,761,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after acquiring an additional 2,025,658 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.