Infinera (NASDAQ:INFN) Stock Rating Reaffirmed by Craig Hallum

Infinera (NASDAQ:INFN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Craig Hallum in a report issued on Monday, Benzinga reports. They currently have a $6.65 target price on the communications equipment provider’s stock, down from their prior target price of $12.00. Craig Hallum’s price target points to a potential upside of 7.26% from the company’s current price.

Several other equities analysts have also issued reports on INFN. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Finally, Morgan Stanley boosted their price target on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Infinera currently has a consensus rating of “Hold” and an average target price of $7.55.

Infinera Stock Up 1.5 %

NASDAQ:INFN opened at $6.20 on Monday. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08. The stock has a fifty day simple moving average of $5.34 and a 200-day simple moving average of $5.14. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -18.23 and a beta of 1.64. Infinera has a twelve month low of $2.82 and a twelve month high of $6.62.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $306.92 million during the quarter, compared to the consensus estimate of $337.73 million. Analysts anticipate that Infinera will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INFN. Vanguard Group Inc. lifted its holdings in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after acquiring an additional 2,299,025 shares during the period. Hood River Capital Management LLC raised its stake in shares of Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after buying an additional 1,432,016 shares during the period. Brown Advisory Inc. raised its stake in shares of 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. AMH Equity Ltd acquired a new position in shares of Infinera during the 1st quarter worth approximately $1,990,000. Finally, Kovack Advisors Inc. raised its stake in shares of Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock worth $3,307,000 after buying an additional 154,904 shares during the period. 97.54% of the stock is 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.