Needham & Company LLC Reaffirms Hold Rating for Infinera (NASDAQ:INFN)

Needham & Company LLC reiterated their hold rating on shares of Infinera (NASDAQ:INFN) in a report released on Friday morning, MarketBeat Ratings reports.

INFN has been the topic of a number of other reports. B. Riley reaffirmed a buy rating and set a $9.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Stifel Nicolaus reaffirmed a buy rating and set a $7.00 target price on shares of Infinera in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Infinera presently has an average rating of Hold and a consensus price target of $7.73.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.09 on Friday. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62. The company has a market cap of $1.43 billion, a PE ratio of -17.91 and a beta of 1.58. The business’s 50 day moving average price is $5.28 and its two-hundred day moving average price is $5.12. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INFN. Charles Schwab Investment Management Inc. boosted its stake in shares of Infinera by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,049 shares of the communications equipment provider’s stock valued at $6,442,000 after purchasing an additional 69,024 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Infinera by 40.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,022 shares of the communications equipment provider’s stock worth $1,087,000 after acquiring an additional 74,742 shares during the period. Shapiro Capital Management LLC raised its position in shares of Infinera by 1.5% in the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after acquiring an additional 293,787 shares in the last quarter. ASB Consultores LLC acquired a new position in shares of Infinera in the 3rd quarter valued at about $93,000. Finally, Vanguard Group Inc. boosted its position in shares of Infinera by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after purchasing an additional 314,856 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.