Infinera (NASDAQ:INFN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Infinera (NASDAQ:INFN) in a research report released on Tuesday. The brokerage issued a sell rating on the communications equipment provider’s stock.

Several other brokerages have also recently issued reports on INFN. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research note on Friday, June 28th. Craig Hallum reiterated a hold rating and issued a $6.65 target price (down from $12.00) on shares of Infinera in a report on Monday, July 1st. Stifel Nicolaus reiterated a buy rating and issued a $7.00 target price on shares of Infinera in a report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Finally, Morgan Stanley boosted their target price on shares of Infinera from $5.40 to $6.65 and gave the company 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 assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $7.09.

Infinera Stock Up 0.5 %

Shares of NASDAQ INFN opened at $6.21 on Tuesday. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The stock has a market cap of $1.45 billion, a PE ratio of -18.26 and a beta of 1.64. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The company has a 50-day moving average of $6.02 and a 200 day moving average of $5.50.

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

Hedge Funds Weigh In On Infinera

Large investors have recently made changes to their positions in the stock. Kovack Advisors Inc. lifted its holdings in shares of Infinera by 39.4% in the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock worth $3,307,000 after acquiring an additional 154,904 shares during the last quarter. Vanguard Group Inc. increased its stake in Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after buying an additional 2,299,025 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Infinera during the 1st quarter worth approximately $627,000. Susquehanna Fundamental Investments LLC purchased a new stake in Infinera during the 1st quarter worth approximately $759,000. Finally, Brown Advisory Inc. increased its stake in Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after buying an additional 1,108,567 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.