Needham & Company LLC assumed coverage on shares of Infinera (NASDAQ:INFN – Free Report) in a report released on Monday morning, StockNewsAPI reports. The firm issued a buy rating and a $10.00 price objective on the communications equipment provider’s stock.
INFN has been the topic of several other reports. Stifel Nicolaus reissued a buy rating and set a $7.00 price objective on shares of Infinera in a research note on Monday, April 1st. B. Riley reissued a buy rating and set a $7.50 price objective on shares of Infinera in a research note on Thursday, March 7th. Finally, StockNews.com cut Infinera from a hold rating to a sell rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $6.85.
Get Our Latest Stock Analysis on INFN
Infinera Trading Up 2.1 %
Infinera (NASDAQ:INFN – Get Free Report) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. The firm had revenue of $392.37 million for the quarter. Equities research analysts predict that Infinera will post -0.06 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its holdings in shares of Infinera by 12.1% in the fourth quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after purchasing an additional 5,100 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Infinera by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock valued at $143,000 after purchasing an additional 5,661 shares during the period. Swiss National Bank boosted its holdings in shares of Infinera by 1.3% in the third quarter. Swiss National Bank now owns 446,400 shares of the communications equipment provider’s stock valued at $1,866,000 after purchasing an additional 5,800 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Infinera by 53.8% in the fourth quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock valued at $90,000 after purchasing an additional 6,619 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Infinera by 8.7% in the third quarter. Barclays PLC now owns 82,810 shares of the communications equipment provider’s stock valued at $346,000 after purchasing an additional 6,628 shares during the period. 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.
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