Infinera (NASDAQ:INFN) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note published on Sunday.

Several other brokerages have also recently issued reports on INFN. JPMorgan Chase & Co. lifted their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. B. Riley cut their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Up 0.6 %

INFN stock opened at $6.74 on Friday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -19.82 and a beta of 1.72. Infinera has a 52 week low of $2.82 and a 52 week high of $6.92. The firm has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $5.82. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02.

Infinera (NASDAQ:INFN) last announced its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating 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 return on equity of 31.63% and a negative net margin of 7.10%. The company’s revenue was down 8.9% compared to the same quarter last year. Equities analysts forecast that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SageView Advisory Group LLC acquired a new stake in shares of Infinera during the 1st quarter worth about $39,000. EverSource Wealth Advisors LLC purchased a new position in Infinera during the second quarter worth about $104,000. Headlands Technologies LLC acquired a new stake in shares of Infinera during the second quarter valued at about $112,000. Algert Global LLC acquired a new stake in shares of Infinera during the second quarter valued at about $128,000. Finally, Principal Financial Group Inc. raised its stake in shares of Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 3,725 shares during the period. Hedge funds and other 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.