Infinera (NASDAQ:INFN) Receives Hold Rating from Craig Hallum

Infinera (NASDAQ:INFN)‘s stock had its “hold” rating reiterated by equities researchers at Craig Hallum in a report released on Monday, Benzinga reports. They currently have a $6.65 price objective on the communications equipment provider’s stock, down from their previous price objective of $12.00. Craig Hallum’s price target would indicate a potential upside of 9.56% from the stock’s current price.

Other analysts also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Infinera in a report on Friday. B. Riley restated a “buy” rating and set a $9.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. 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. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.55.

Infinera Price Performance

Shares of INFN traded down $0.02 during mid-day trading on Monday, hitting $6.07. The company’s stock had a trading volume of 2,739,471 shares, compared to its average volume of 3,420,201. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97. The firm has a 50-day moving average price of $5.28 and a 200 day moving average price of $5.12. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -17.97 and a beta of 1.64.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company had revenue of $306.92 million during the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. On average, research analysts predict that Infinera will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several institutional investors have recently added to or reduced their stakes in the company. SageView Advisory Group LLC acquired a new position in Infinera during the 1st quarter worth about $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter worth approximately $48,000. Worth Venture Partners LLC bought a new stake in shares of Infinera during the fourth quarter valued at approximately $53,000. Ironwood Investment Counsel LLC acquired a new stake in shares of Infinera in the fourth quarter valued at approximately $56,000. Finally, SG Americas Securities LLC bought a new position in Infinera in the 4th quarter worth approximately $81,000. 97.54% of the stock is owned by institutional investors.

Infinera Company Profile

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.