Infinera (NASDAQ:INFN) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Infinera (NASDAQ:INFNFree Report) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $10.00 price objective on the communications equipment provider’s stock.

Several other research firms have also recently issued reports on INFN. StockNews.com cut shares of Infinera from a hold rating to a sell rating in a research note on Friday, February 23rd. B. Riley reiterated a buy rating and issued a $9.00 price objective on shares of Infinera in a research report on Wednesday. Finally, Stifel Nicolaus restated a buy rating and set a $7.00 target price on shares of Infinera in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $7.32.

Read Our Latest Stock Analysis on INFN

Infinera Price Performance

Infinera stock opened at $5.26 on Thursday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.69 and a quick ratio of 0.95. Infinera has a one year low of $2.82 and a one year high of $6.62. The firm has a market capitalization of $1.22 billion, a P/E ratio of -15.47 and a beta of 1.63. The business has a fifty day moving average price of $5.17 and a 200-day moving average price of $4.83.

Infinera (NASDAQ:INFNGet Free Report) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. Infinera had a negative return on equity of 28.86% and a negative net margin of 5.11%. The business had revenue of $392.37 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INFN. FMR LLC lifted its stake in Infinera by 0.6% during the third 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 last quarter. Vanguard Group Inc. lifted its position in Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after buying an additional 2,299,025 shares during the last quarter. Shapiro Capital Management LLC boosted its stake in Infinera by 1.5% in 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 buying an additional 293,787 shares in the last quarter. Brown Advisory Inc. grew its position in Infinera by 8.0% during the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after acquiring an additional 1,108,567 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY raised its stake in shares of Infinera by 3.1% during the third 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. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

About Infinera

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Infinera (NASDAQ:INFN)

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