Infinera (NASDAQ:INFN) Downgraded by StockNews.com

Infinera (NASDAQ:INFN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other research firms also recently weighed in on INFN. Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $6.65 in a report on Monday, August 5th. Morgan Stanley increased their price objective on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. Finally, B. Riley lowered their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Infinera presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Down 0.1 %

INFN opened at $6.75 on Monday. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.92. The business has a 50-day moving average of $6.46 and a 200-day moving average of $5.83. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The company has a market capitalization of $1.58 billion, a PE ratio of -19.85 and a beta of 1.72.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities research analysts forecast that Infinera will post -0.17 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Infinera by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after buying an additional 2,180 shares during the last quarter. Graypoint LLC grew its holdings in Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 2,438 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Infinera by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after purchasing an additional 2,821 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Infinera by 8.7% during the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors and hedge funds 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.