Infinera (NASDAQ:INFN) Shares Gap Up on Analyst Upgrade

Shares of Infinera Co. (NASDAQ:INFN) gapped up before the market opened on Friday after Morgan Stanley raised their price target on the stock from $5.40 to $6.65. The stock had previously closed at $5.26, but opened at $6.22. Morgan Stanley currently has an equal weight rating on the stock. Infinera shares last traded at $6.25, with a volume of 6,443,231 shares traded.

Other equities research analysts also recently issued reports about the company. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Infinera in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.73.

Institutional Trading of Infinera

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Infinera by 9.3% during the 1st 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. Hood River Capital Management LLC increased its position in Infinera by 52.5% in the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after buying an additional 1,432,016 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Infinera by 8.0% during the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after buying an additional 1,108,567 shares during the last quarter. AMH Equity Ltd acquired a new position in shares of Infinera during the first quarter worth approximately $1,990,000. Finally, Kovack Advisors Inc. boosted its position in shares of Infinera by 39.4% in the first quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after acquiring an additional 154,904 shares during the period. 97.54% of the stock is owned by institutional investors.

Infinera Stock Performance

The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -17.91 and a beta of 1.58. The firm’s 50 day moving average price is $5.28 and its 200-day moving average price is $5.12. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company 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%. On average, analysts anticipate that Infinera Co. will post -0.19 earnings per share for the current year.

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.