StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

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

A number of other analysts have also recently commented on INFN. Craig Hallum reaffirmed a hold rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Morgan Stanley increased their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a research report on Friday, June 28th. Needham & Company LLC reissued a hold rating on shares of Infinera in a research report on Friday, June 28th. Stifel Nicolaus reissued a buy rating and set a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Finally, B. Riley reissued a buy rating and set a $9.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $7.55.

Infinera Stock Performance

Shares of Infinera stock opened at $6.02 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -17.71 and a beta of 1.64. The company’s fifty day moving average is $5.66 and its 200 day moving average is $5.32. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The firm had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Sell-side analysts forecast that Infinera will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Graypoint LLC raised its holdings in shares of Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 2,438 shares during the last quarter. ProShare Advisors LLC increased its stake 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 buying an additional 2,821 shares during the last quarter. Principal Financial Group Inc. increased its stake in Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 3,725 shares during the last quarter. Blair William & Co. IL increased its stake in Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after buying an additional 3,800 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Infinera by 12.1% in the 4th quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after buying an additional 5,100 shares during the last quarter. Institutional investors and hedge funds 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.