StockNews.com Initiates Coverage on Infinera (NASDAQ:INFN)

Equities research analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFNGet Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the communications equipment provider’s stock.

A number of other research firms have also recently issued reports on INFN. Morgan Stanley increased their price target on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Stifel Nicolaus restated a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Infinera in a report on Wednesday, May 15th. Needham & Company LLC restated a “hold” rating on shares of Infinera in a report on Friday, June 28th. Finally, Craig Hallum restated a “hold” rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Infinera currently has an average rating of “Hold” and a consensus target price of $7.55.

Check Out Our Latest Stock Report on INFN

Infinera Stock Performance

Shares of INFN stock opened at $6.05 on Tuesday. The business’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $5.20. Infinera has a one year low of $2.82 and a one year high of $6.62. The stock has a market capitalization of $1.42 billion, a PE ratio of -17.79 and a beta of 1.64. 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:INFNGet Free Report) last announced its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The company had revenue of $306.92 million during the quarter, compared to the consensus estimate of $337.73 million. As a group, research analysts forecast that Infinera will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Infinera

A number of institutional investors have recently modified their holdings of the company. Kovack Advisors Inc. raised its position in Infinera by 39.4% in the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after buying an additional 154,904 shares during the last quarter. Brown Advisory Inc. raised its position in Infinera by 8.0% in the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after buying an additional 1,108,567 shares during the last quarter. Vanguard Group Inc. raised its position in Infinera by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after buying an additional 314,856 shares during the last quarter. Victory Capital Management Inc. raised its position in Infinera by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 5,661 shares during the last quarter. Finally, DDD Partners LLC raised its position in Infinera by 101.1% in the 4th quarter. DDD Partners LLC now owns 29,694 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 14,925 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

About Infinera

(Get Free Report)

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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