Infinera (NASDAQ:INFN) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report issued on Tuesday. The firm set a “sell” rating on the communications equipment provider’s stock.

A number of other research analysts also recently commented on INFN. Craig Hallum reissued a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 target price on shares of Infinera in a research report on Wednesday, May 15th. Berenberg Bank raised Infinera to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

Shares of NASDAQ:INFN opened at $6.18 on Tuesday. The firm has a market capitalization of $1.45 billion, a PE ratio of -18.18 and a beta of 1.64. 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 has a 50-day moving average of $6.00 and a two-hundred day moving average of $5.49. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The company had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. Infinera’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, research analysts forecast that Infinera will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INFN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Infinera by 38.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,155 shares of the communications equipment provider’s stock worth $224,000 after acquiring an additional 12,983 shares during the period. New York State Common Retirement Fund increased its stake in Infinera by 38.7% in the 4th quarter. New York State Common Retirement Fund now owns 81,159 shares of the communications equipment provider’s stock worth $386,000 after purchasing an additional 22,640 shares in the last quarter. Victory Capital Management Inc. increased its stake in Infinera by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after purchasing an additional 5,661 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Infinera in the 4th quarter worth about $533,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Infinera by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock worth $7,489,000 after purchasing an additional 35,676 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.