Infinera (NASDAQ:INFN) Stock Rating Lowered by Rosenblatt Securities

Rosenblatt Securities cut shares of Infinera (NASDAQ:INFN) from a buy rating to a neutral rating in a report issued on Monday morning, Marketbeat reports. The brokerage currently has $6.65 price objective on the communications equipment provider’s stock, down from their previous price objective of $8.00.

A number of other equities research analysts have also recently weighed in on INFN. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research note on Friday, June 28th. StockNews.com initiated coverage on shares of Infinera in a research note on Friday. They set a sell rating on the stock. Stifel Nicolaus reissued a buy rating and set a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Morgan Stanley lifted their price objective 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. Finally, B. Riley reiterated a buy rating and set a $9.00 target price on shares of Infinera in a report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $7.09.

Infinera Trading Up 0.5 %

Shares of NASDAQ:INFN traded up $0.03 during midday trading on Monday, reaching $5.79. 10,821,366 shares of the company’s stock were exchanged, compared to its average volume of 4,118,154. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -17.03 and a beta of 1.64. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The firm’s 50 day simple moving average is $5.74 and its two-hundred day simple moving average is $5.37. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Infinera’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Infinera will post -0.19 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of institutional investors have recently bought and sold shares of INFN. Arizona State Retirement System increased its holdings in shares of Infinera by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after acquiring an additional 2,180 shares during the last quarter. Graypoint LLC raised its holdings in Infinera by 8.7% during the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 2,438 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Infinera by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after buying an additional 2,821 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Infinera by 16.2% in 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. Finally, Blair William & Co. IL raised its stake in Infinera by 8.7% during the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after acquiring an additional 3,800 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other 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.