Infinera (NASDAQ:INFN) Sets New 12-Month High – Still a Buy?

Infinera Co. (NASDAQ:INFN) shares hit a new 52-week high on Monday . The stock traded as high as $6.98 and last traded at $6.98, with a volume of 255 shares trading hands. The stock had previously closed at $6.87.

Analyst Ratings Changes

INFN has been the topic of several analyst reports. Morgan Stanley increased their price target on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their price objective on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $6.65 in a research report on Monday, August 5th. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Finally, StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Trading Down 0.1 %

The business has a 50-day moving average price of $6.46 and a 200-day moving average price of $5.83. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $1.58 billion, a P/E ratio of -19.85 and a beta of 1.72.

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 the consensus estimate 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 firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

Institutional investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new position in shares of Infinera in the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter worth about $104,000. Headlands Technologies LLC acquired a new stake in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in Infinera during the 2nd quarter valued at about $128,000. Finally, Principal Financial Group Inc. boosted its position in Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 3,725 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.