Infinera (NASDAQ:INFN) Hits New 52-Week High at $8.34

Infinera Corp. (NASDAQ:INFN)’s stock price reached a new 52-week high on Friday . The stock traded as high as $8.34 and last traded at $8.10, with a volume of 340369 shares changing hands. The stock had previously closed at $8.22.

Several equities analysts have weighed in on INFN shares. Rosenblatt Securities reissued a “hold” rating and issued a $6.00 target price on shares of Infinera in a research note on Wednesday, November 13th. ValuEngine lowered Infinera from a “sell” rating to a “strong sell” rating in a research note on Friday, November 8th. MKM Partners increased their target price on Infinera from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. B. Riley restated a “buy” rating and issued a $8.40 price target on shares of Infinera in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upgraded Infinera from an “underweight” rating to a “neutral” rating and set a $7.00 price target for the company in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Infinera currently has an average rating of “Hold” and a consensus price target of $7.60.

The company has a quick ratio of 0.89, a current ratio of 1.47 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $1.49 billion, a P/E ratio of -12.65 and a beta of 0.69. The stock has a fifty day moving average of $7.30 and a 200-day moving average of $5.48.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, November 12th. The communications equipment provider reported ($0.17) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.17). The business had revenue of $325.34 million during the quarter, compared to the consensus estimate of $327.09 million. Infinera had a negative return on equity of 34.56% and a negative net margin of 36.15%. Infinera’s quarterly revenue was up 62.3% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Sell-side analysts predict that Infinera Corp. will post -0.9 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of INFN. Russell Investments Group Ltd. grew its stake in Infinera by 39.6% in the second quarter. Russell Investments Group Ltd. now owns 269,312 shares of the communications equipment provider’s stock valued at $784,000 after purchasing an additional 76,439 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Infinera by 8.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 938,217 shares of the communications equipment provider’s stock valued at $2,731,000 after purchasing an additional 73,054 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Infinera by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 938,110 shares of the communications equipment provider’s stock valued at $2,730,000 after purchasing an additional 28,969 shares in the last quarter. Northern Trust Corp grew its stake in Infinera by 3.0% in the second quarter. Northern Trust Corp now owns 1,855,665 shares of the communications equipment provider’s stock valued at $5,400,000 after purchasing an additional 53,814 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Infinera by 8.6% in the second quarter. Parametric Portfolio Associates LLC now owns 305,574 shares of the communications equipment provider’s stock valued at $889,000 after purchasing an additional 24,272 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Infinera Company Profile (NASDAQ:INFN)

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Recommended Story: Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.