Infinera (NASDAQ:INFN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a note issued to investors on Friday. The brokerage set a “sell” rating on the communications equipment provider’s stock.

A number of other equities research analysts also recently issued reports on INFN. Craig Hallum reiterated a “hold” rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Finally, B. Riley lowered their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Trading Down 0.7 %

Shares of INFN stock opened at $6.79 on Friday. Infinera has a 1-year low of $2.82 and a 1-year high of $6.91. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The business’s fifty day moving average price is $6.16 and its 200 day moving average price is $5.65. The firm has a market capitalization of $1.59 billion, a PE ratio of -19.97 and a beta of 1.71.

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, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Infinera will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Water Island Capital LLC acquired a new position in shares of Infinera in the 2nd quarter valued at $9,196,000. Algert Global LLC acquired a new stake in shares of Infinera during the 2nd quarter worth $128,000. Shellback Capital LP purchased a new position in shares of Infinera in the 2nd quarter worth $5,874,000. The Manufacturers Life Insurance Company boosted its holdings in Infinera by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock valued at $626,000 after acquiring an additional 4,266 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Infinera by 22.4% during the second quarter. AQR Capital Management LLC now owns 89,282 shares of the communications equipment provider’s stock valued at $544,000 after acquiring an additional 16,332 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.