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

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research report sent to investors on Thursday. The brokerage issued a sell rating on the communications equipment provider’s stock.

A number of other equities analysts have also recently commented on INFN. Berenberg Bank raised shares of Infinera to a hold rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on Infinera from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday, August 6th. Craig Hallum restated a hold rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. B. Riley lowered their price objective on Infinera from $9.00 to $6.65 and set a buy rating for the company in a research report on Monday, August 5th. Finally, Morgan Stanley raised their target price on shares of Infinera from $5.40 to $6.65 and gave the stock an equal weight rating in a report on Friday, June 28th. 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 company’s stock. According to data from MarketBeat, Infinera currently has a consensus rating of Hold and a consensus target price of $7.09.

Infinera Trading Up 0.1 %

Shares of INFN stock opened at $6.70 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The firm has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.71. The business has a 50-day moving average price of $6.10 and a two-hundred day moving average price of $5.61. Infinera has a 12-month low of $2.82 and a 12-month high of $6.76.

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

Institutional Trading of Infinera

Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in shares of Infinera by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after purchasing an additional 5,661 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Infinera by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock worth $7,489,000 after buying an additional 35,676 shares during the period. BNP Paribas Financial Markets boosted its position in Infinera by 1.2% during the 4th quarter. BNP Paribas Financial Markets now owns 641,719 shares of the communications equipment provider’s stock valued at $3,048,000 after acquiring an additional 7,370 shares in the last quarter. Aigen Investment Management LP grew its holdings in shares of Infinera by 138.1% during the 4th quarter. Aigen Investment Management LP now owns 64,881 shares of the communications equipment provider’s stock worth $308,000 after acquiring an additional 37,634 shares during the period. Finally, RPO LLC bought a new position in shares of Infinera in the 4th quarter worth approximately $82,000. Institutional investors own 97.54% of the company’s stock.

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.