Infinera’s (INFN) “Hold” Rating Reaffirmed at Needham & Company LLC

Infinera (NASDAQ:INFN)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports.

A number of other analysts also recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $9.00 target price on shares of Infinera in a report on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.32.

Infinera Price Performance

Shares of Infinera stock opened at $5.26 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -15.47 and a beta of 1.58. The stock has a 50 day moving average of $5.26 and a 200 day moving average of $5.11. 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 12 month low of $2.82 and a 12 month high of $6.62.

Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. On average, research analysts expect that Infinera will post -0.19 EPS for the current fiscal year.

Institutional Trading of Infinera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Infinera by 1.3% in the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock worth $101,495,000 after buying an additional 314,856 shares during the period. Brown Advisory Inc. increased its stake in Infinera by 8.0% in the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after purchasing an additional 1,108,567 shares during the period. Shapiro Capital Management LLC lifted its position in shares of Infinera by 1.5% during the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after purchasing an additional 293,787 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Infinera by 23.2% during 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. Finally, DDD Partners LLC grew its holdings in shares of Infinera by 101.1% in the fourth quarter. DDD Partners LLC now owns 29,694 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 14,925 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other 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.