Infinera (NASDAQ:INFN) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

Several other equities research analysts have also recently weighed in on INFN. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. B. Riley cut their target price on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $6.65 in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Up 0.6 %

Shares of NASDAQ INFN opened at $6.74 on Friday. Infinera has a 52-week low of $2.82 and a 52-week high of $6.92. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.72. The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $5.82. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57.

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

Institutional Investors Weigh In On Infinera

Several institutional investors and hedge funds have recently made changes to their positions in INFN. SageView Advisory Group LLC acquired a new stake in shares of Infinera during the first quarter worth about $39,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Infinera in the 2nd quarter valued at $104,000. Headlands Technologies LLC acquired a new stake in shares of Infinera in the second quarter worth $112,000. Algert Global LLC purchased a new position in shares of Infinera during the second quarter worth $128,000. Finally, Principal Financial Group Inc. lifted its position in Infinera by 16.2% during the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 3,725 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.