StockNews.com Initiates Coverage on Infinera (NASDAQ:INFN)

Investment analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a report issued on Thursday. The firm set a “sell” rating on the communications equipment provider’s stock.

Several other research analysts also recently commented on the company. B. Riley reiterated a “buy” rating and set a $9.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a report on Friday, June 28th. Craig Hallum reissued a “hold” rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a report on Monday, July 1st. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price target on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.55.

Infinera Stock Up 0.7 %

INFN stock opened at $6.02 on Thursday. 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 business has a 50 day moving average price of $5.66 and a two-hundred day moving average price of $5.31. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -17.71 and a beta of 1.64. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The company had revenue of $306.92 million during the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Analysts anticipate that Infinera will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased 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 purchasing an additional 2,299,025 shares during the last quarter. Brown Advisory Inc. increased 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 purchasing an additional 1,108,567 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of 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 valued at $25,098,000 after purchasing an additional 1,432,016 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Infinera by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock valued at $7,489,000 after purchasing an additional 35,676 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Infinera by 249.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,276,876 shares of the communications equipment provider’s stock valued at $7,776,000 after purchasing an additional 911,293 shares during the last quarter. 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.