Infinera (NASDAQ:INFN) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a report released on Sunday. The firm issued a sell rating on the communications equipment provider’s stock.

INFN has been the topic of several other reports. B. Riley decreased their price objective on shares of Infinera from $9.00 to $6.65 and set a buy rating on the stock in a report on Monday, August 5th. Stifel Nicolaus restated a buy rating and set a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Rosenblatt Securities cut Infinera from a buy rating to a neutral rating and dropped their price objective for the company from $8.00 to $6.65 in a research note on Monday, August 5th. Morgan Stanley lifted their target price on Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $7.09.

Infinera Price Performance

INFN stock opened at $6.03 on Friday. Infinera has a 52-week low of $2.82 and a 52-week high of $6.62. 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 has a market cap of $1.41 billion, a price-to-earnings ratio of -17.74 and a beta of 1.64. The business has a fifty day moving average of $5.77 and a two-hundred day moving average of $5.41.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its holdings in shares of Infinera by 278.8% in the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after purchasing an additional 2,479,272 shares in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 2,299,025 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after acquiring an additional 2,025,658 shares during the last quarter. Water Island Capital LLC acquired a new stake in shares of Infinera during the 2nd quarter worth about $9,196,000. Finally, Hood River Capital Management LLC lifted 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 worth $25,098,000 after purchasing an additional 1,432,016 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.