Infinera (NASDAQ:INFN) PT Raised to $6.00

Infinera (NASDAQ:INFN) had its price objective lifted by JPMorgan Chase & Co. from $5.00 to $6.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an underweight rating on the communications equipment provider’s stock.

Other research analysts also recently issued reports about the stock. B. Riley cut their target price on shares of Infinera from $9.00 to $6.65 and set a buy rating on the stock in a research report on Monday, August 5th. StockNews.com began coverage on Infinera in a research note on Friday, August 2nd. They issued a sell rating for the company. Rosenblatt Securities cut Infinera from a buy rating to a neutral rating and lowered their price target for the company from $8.00 to $6.65 in a research note on Monday, August 5th. Morgan Stanley upped their price target on Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research note on Friday, June 28th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $7.09.

Infinera Price Performance

NASDAQ INFN traded down $0.05 on Tuesday, hitting $5.63. 5,428,214 shares of the company were exchanged, compared to its average volume of 4,123,209. The firm has a 50 day moving average of $5.74 and a two-hundred day moving average of $5.38. The company has a market cap of $1.32 billion, a P/E ratio of -16.56 and a beta of 1.64. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08. Infinera has a 1-year low of $2.82 and a 1-year high of $6.62.

Infinera (NASDAQ:INFN) last released 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 5.11% and a negative return on equity of 27.68%. The company had revenue of $342.70 million for the quarter, compared to the consensus estimate of $331.71 million. Infinera’s revenue was down 8.9% on a year-over-year basis. On average, equities analysts predict that Infinera will post -0.19 EPS for the current year.

Institutional Trading of Infinera

Large investors have recently bought and sold shares of the business. SageView Advisory Group LLC bought a new position in shares of Infinera during the 1st quarter worth approximately $39,000. Partners Capital Investment Group LLP bought a new position in shares of Infinera during the 4th quarter worth approximately $48,000. Worth Venture Partners LLC bought a new position in shares of Infinera during the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC bought a new position in shares of Infinera during the 4th quarter worth approximately $56,000. Finally, SG Americas Securities LLC bought a new position in shares of Infinera during the 4th quarter worth approximately $81,000. 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.