Infinera Co. (NASDAQ:INFN) Receives Average Rating of “Hold” from Brokerages

Infinera Co. (NASDAQ:INFN) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.09.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. Finally, B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 2,299,025 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Infinera in the 2nd quarter worth approximately $666,000. Water Island Capital LLC acquired a new position in shares of Infinera in the 2nd quarter worth approximately $9,196,000. AIGH Capital Management LLC lifted its holdings in shares of Infinera by 278.8% in the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after acquiring an additional 2,479,272 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Infinera in the 3rd quarter worth approximately $556,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Price Performance

INFN stock opened at $6.61 on Monday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.81 and a beta of 1.71. The firm has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $6.13. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera has a 52 week low of $3.79 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The company had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Equities analysts forecast that Infinera will post -0.25 earnings per share for the current fiscal year.

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.