Infinera (NASDAQ:INFN) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Infinera (NASDAQ:INFN) in a report issued on Friday morning, Marketbeat.com reports.

Several other equities research analysts have also commented on INFN. Stifel Nicolaus restated a buy rating and issued a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. B. Riley reissued a buy rating and issued a $9.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $7.73.

Infinera Trading Up 15.8 %

INFN opened at $6.09 on Friday. 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’s fifty day moving average is $5.28 and its two-hundred day moving average is $5.12. The company has a market capitalization of $1.43 billion, a P/E ratio of -17.91 and a beta of 1.58. Infinera has a 52 week low of $2.82 and a 52 week high of $6.62.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (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 return on equity of 27.68% and a negative net margin of 5.11%. Analysts forecast that Infinera will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

Several institutional investors have recently bought and sold shares of INFN. SageView Advisory Group LLC acquired a new stake in Infinera in the first quarter worth about $39,000. Partners Capital Investment Group LLP acquired a new stake in Infinera in the 4th quarter worth approximately $48,000. Worth Venture Partners LLC acquired a new stake in Infinera in the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC acquired a new position in Infinera during the 4th quarter valued at approximately $56,000. Finally, SG Americas Securities LLC purchased a new position in shares of Infinera in the fourth quarter worth $81,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.