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

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

Other equities analysts also recently issued reports about the company. Berenberg Bank upgraded Infinera to a hold rating in a research report on Monday, August 5th. Stifel Nicolaus reissued a buy rating and set a $7.00 target price on shares of Infinera in a report on Wednesday, May 15th. Craig Hallum reiterated a hold rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Needham & Company LLC restated a hold rating on shares of Infinera in a report on Friday, June 28th. Finally, Rosenblatt Securities downgraded Infinera from a buy rating to a neutral rating and cut their target price for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.05 on Friday. 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 $1.42 billion, a PE ratio of -17.79 and a beta of 1.64. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The business’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $5.42.

Infinera (NASDAQ:INFN) last released 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. The business had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Infinera’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, analysts expect that Infinera will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after buying an additional 2,299,025 shares during the period. Brown Advisory Inc. grew its stake in shares of Infinera by 8.0% in the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after buying an additional 1,108,567 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake 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 buying an additional 2,025,658 shares during the period. Hood River Capital Management LLC grew its stake in shares of Infinera by 14.2% in the 2nd quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock valued at $28,951,000 after buying an additional 591,611 shares during the period. Finally, AIGH Capital Management LLC grew its stake 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 buying an additional 2,479,272 shares during the period. 97.54% of the stock is owned by institutional investors.

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.