Infinera (NASDAQ:INFN) Downgraded by Rosenblatt Securities

Rosenblatt Securities cut shares of Infinera (NASDAQ:INFN) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat.com reports. They currently have $6.65 price target on the communications equipment provider’s stock, down from their previous price target of $8.00.

Several other research firms have also commented on INFN. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research note on Friday, June 28th. 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 research note on Friday, June 28th. Craig Hallum reissued a hold rating and set a $6.65 target price (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Stifel Nicolaus reissued a buy rating and set a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Finally, StockNews.com assumed coverage on shares of Infinera in a research note on Friday, August 2nd. They set a sell rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Infinera presently has an average rating of Hold and a consensus target price of $7.09.

Infinera Trading Down 1.7 %

Shares of INFN opened at $5.69 on Monday. The company’s fifty day moving average is $5.74 and its 200 day moving average is $5.37. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The stock has a market capitalization of $1.33 billion, a PE ratio of -16.74 and a beta of 1.64. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS 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 net margin of 5.11% and a negative return on equity of 27.68%. Infinera’s revenue was down 8.9% compared to the same quarter last year. Sell-side analysts expect that Infinera will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Several hedge funds have recently modified their holdings of INFN. SG Americas Securities LLC purchased a new stake in shares of Infinera during the fourth quarter valued at about $81,000. Mackenzie Financial Corp lifted its position in shares of Infinera by 53.8% during the fourth quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock valued at $90,000 after buying an additional 6,619 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Infinera by 38.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,155 shares of the communications equipment provider’s stock valued at $224,000 after buying an additional 12,983 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Infinera during the fourth quarter valued at about $194,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Infinera by 12.1% during the fourth 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. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.