Infinera (NASDAQ:INFN) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a sell rating in a research report report published on Monday morning.

INFN has been the subject of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective 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. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Morgan Stanley increased their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. Finally, Craig Hallum reiterated a “hold” rating and issued a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Infinera has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

Shares of INFN opened at $6.69 on Monday. The business’s fifty day simple moving average is $6.47 and its two-hundred day simple moving average is $5.83. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. Infinera has a 12 month low of $2.82 and a 12 month high of $6.92. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -19.68 and a beta of 1.72.

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

Institutional Investors Weigh In On Infinera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFN. Vanguard Group Inc. grew its holdings in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock valued at $117,564,000 after buying an additional 469,315 shares in the last quarter. Kovack Advisors Inc. grew its holdings in Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after buying an additional 154,904 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 3,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Infinera during the 1st quarter valued at approximately $627,000. Finally, Graypoint LLC grew its holdings in Infinera by 8.7% during the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 2,438 shares in the last quarter. 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.