Infinera (NASDAQ:INFN) Now Covered by Analysts at StockNews.com

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

Several other equities analysts also recently weighed in on the company. B. Riley reduced their target price on Infinera from $9.00 to $6.65 and set a buy rating on the stock in a research report on Monday, August 5th. Morgan Stanley boosted their target price on shares of Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a report on Friday, June 28th. Craig Hallum reissued a hold rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Rosenblatt Securities downgraded Infinera from a buy rating to a neutral rating and lowered their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $7.09.

Infinera Price Performance

INFN stock opened at $6.75 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The stock’s 50 day moving average price is $6.19 and its 200 day moving average price is $5.70. The firm has a market cap of $1.58 billion, a P/E ratio of -19.85 and a beta of 1.71. Infinera has a 1 year low of $2.82 and a 1 year high of $6.92.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts expect that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Hedge funds and other institutional investors have recently bought and sold shares of the company. AIGH Capital Management LLC lifted its holdings in Infinera by 278.8% during the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after buying an additional 2,479,272 shares during the last quarter. Vanguard Group Inc. lifted its stake in Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Infinera by 22.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after purchasing an additional 2,025,658 shares during the period. Water Island Capital LLC bought a new stake in Infinera during the second quarter valued at $9,196,000. Finally, Hood River Capital Management LLC increased its stake in 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 last quarter. 97.54% of the stock is owned by 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.