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

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

Other analysts have also recently issued reports about the stock. B. Riley reiterated a buy rating and issued a $9.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Stifel Nicolaus reissued a buy rating and issued a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. Morgan Stanley lifted their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a report on Friday, June 28th. Needham & Company LLC reissued a hold rating on shares of Infinera in a research note on Friday, June 28th. Finally, 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 note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $7.27.

Infinera Price Performance

Shares of NASDAQ INFN opened at $5.76 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -16.94 and a beta of 1.64. The stock has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $5.37. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08. Infinera has a 1-year low of $2.82 and a 1-year high of $6.62.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Analysts anticipate that Infinera will post -0.19 earnings per share for the current year.

Institutional Trading of Infinera

Several institutional investors have recently added to or reduced their stakes in INFN. Vanguard Group Inc. lifted its stake in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after acquiring an additional 2,299,025 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Infinera by 52.5% during the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after purchasing an additional 1,432,016 shares during the period. Brown Advisory Inc. grew its holdings in shares of Infinera by 8.0% in the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after purchasing an additional 1,108,567 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Infinera by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 1,276,876 shares of the communications equipment provider’s stock worth $7,776,000 after buying an additional 911,293 shares during the period. Finally, AMH Equity Ltd bought a new stake in Infinera during the 1st quarter valued at $1,990,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.