Infinera (NASDAQ:INFN) Price Target Lowered to $6.65 at B. Riley

Infinera (NASDAQ:INFN) had its target price trimmed by B. Riley from $9.00 to $6.65 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

INFN has been the topic of a number of other research reports. 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. StockNews.com assumed coverage on shares of Infinera in a research report on Friday, August 2nd. They issued a sell rating on the stock. Morgan Stanley upped 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. Rosenblatt Securities downgraded Infinera from a buy rating to a neutral rating and dropped their price target for the company from $8.00 to $6.65 in a research note on Monday. Finally, Craig Hallum reaffirmed a hold rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $7.09.

Infinera Price Performance

INFN opened at $5.68 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of -16.71 and a beta of 1.64. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The company has a fifty day simple moving average of $5.74 and a 200 day simple moving average of $5.38.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, research analysts expect that Infinera will post -0.19 EPS for the current year.

Institutional Trading of Infinera

A number of hedge funds and other institutional investors have recently modified their holdings of INFN. Arizona State Retirement System grew its stake in Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after purchasing an additional 2,180 shares in the last quarter. Graypoint LLC lifted its stake in Infinera by 8.7% in the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 2,438 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 2,821 shares during the period. Principal Financial Group Inc. increased its stake 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 worth $162,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 3,800 shares during the period. Institutional investors and hedge funds 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.