Infinera (NASDAQ:INFN) Upgraded to Hold at StockNews.com

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

Other research analysts have also issued reports about the stock. B. Riley lowered their target price on shares of Infinera from $9.00 to $6.65 and set a buy rating on the stock in a research note on Monday, August 5th. Morgan Stanley raised their target price on shares of Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research note on Friday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Berenberg Bank raised shares of Infinera to a hold rating in a report on Monday, August 5th. Finally, Rosenblatt Securities downgraded shares of Infinera from a buy rating to a neutral rating and reduced their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $7.09.

Infinera Stock Performance

Shares of INFN opened at $6.67 on Friday. The company’s fifty day moving average is $6.33 and its 200-day moving average is $5.80. Infinera has a 12 month low of $2.82 and a 12 month high of $6.92. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -19.62 and a beta of 1.72. 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 posted its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera’s revenue was down 8.9% compared to the same quarter last year. Equities analysts expect that Infinera will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of hedge funds and other institutional investors have recently made changes to their positions in INFN. SageView Advisory Group LLC bought a new position in shares of Infinera during the 1st quarter worth about $39,000. EverSource Wealth Advisors LLC bought a new position in shares of Infinera during the 2nd quarter worth about $104,000. Headlands Technologies LLC bought a new position in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in shares of Infinera during the 2nd quarter worth about $128,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after acquiring an additional 3,725 shares during the period. 97.54% of the stock is owned by institutional investors.

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.