Needham & Company LLC Initiates Coverage on Infinera (NASDAQ:INFN)

Needham & Company LLC started coverage on shares of Infinera (NASDAQ:INFN) in a research note issued to investors on Monday, StockNewsAPI reports. The brokerage set a “buy” rating and a $10.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 104.50% from the stock’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. B. Riley reissued a “buy” rating and set a $7.50 target price on shares of Infinera in a research note on Thursday, March 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price target on shares of Infinera in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.85.

Infinera Price Performance

Shares of NASDAQ INFN opened at $4.89 on Monday. The firm has a 50-day simple moving average of $5.15 and a 200-day simple moving average of $4.60. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -163.00 and a beta of 1.58. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 3.63. Infinera has a 52 week low of $2.82 and a 52 week high of $6.62.

Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. The business had revenue of $392.37 million during the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. On average, equities analysts predict that Infinera will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in Infinera by 0.6% during the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock worth $142,281,000 after purchasing an additional 196,237 shares during the period. Vanguard Group Inc. increased its holdings in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after purchasing an additional 469,315 shares during the period. Shapiro Capital Management LLC increased its holdings in Infinera by 1.5% during the 3rd 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 period. Brown Advisory Inc. boosted its position in shares of Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after acquiring an additional 1,108,567 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its position in shares of Infinera by 3.1% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 4,927,700 shares of the communications equipment provider’s stock worth $20,598,000 after acquiring an additional 149,400 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.