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

Infinera (NASDAQ:INFN)‘s stock had its “hold” rating restated by Needham & Company LLC in a research note issued to investors on Friday, Marketbeat.com reports.

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

Infinera Price Performance

NASDAQ INFN opened at $6.09 on Friday. 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 has a 12-month low of $2.82 and a 12-month high of $6.62. The company has a market capitalization of $1.43 billion, a PE ratio of -17.91 and a beta of 1.58. The firm’s 50 day moving average is $5.28 and its 200-day moving average is $5.12.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The business had revenue of $306.92 million during the quarter, compared to analyst estimates of $337.73 million. Equities research analysts anticipate that Infinera will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several institutional investors and hedge funds have recently modified their holdings of INFN. Charles Schwab Investment Management Inc. increased its holdings in shares of Infinera by 4.7% in the third 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. increased its holdings in shares of Infinera by 40.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,022 shares of the communications equipment provider’s stock valued at $1,087,000 after purchasing an additional 74,742 shares during the last quarter. Shapiro Capital Management LLC increased its holdings in shares of Infinera by 1.5% in the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock valued at $80,556,000 after purchasing an additional 293,787 shares during the last quarter. ASB Consultores LLC acquired a new position in shares of Infinera in the third quarter valued at $93,000. Finally, Vanguard Group Inc. increased its holdings in shares of Infinera by 1.3% in the third 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 during the last quarter. 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.