Infinera (NASDAQ:INFN) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

Several other brokerages have also commented on INFN. Craig Hallum reissued a hold rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Morgan Stanley boosted their target price 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. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research note on Friday, June 28th. B. Riley cut their price objective on Infinera from $9.00 to $6.65 and set a buy rating for the company in a research note on Monday, August 5th. Finally, Berenberg Bank raised Infinera to a hold rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Infinera has a consensus rating of Hold and a consensus price target of $7.09.

Infinera Stock Performance

Shares of Infinera stock opened at $6.70 on Friday. The firm has a 50-day simple moving average of $6.37 and a two-hundred day simple moving average of $5.81. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.92. The company has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.72.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Infinera by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after purchasing an additional 469,315 shares during the last quarter. Kovack Advisors Inc. increased its holdings 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 last quarter. Principal Financial Group Inc. raised its position in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Infinera in the first quarter valued at approximately $627,000. Finally, Graypoint LLC grew its position in Infinera by 8.7% in the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 2,438 shares during the period. Hedge funds and other 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.