Analysts Set Infinera Co. (NASDAQ:INFN) Price Target at $7.09

Shares of Infinera Co. (NASDAQ:INFN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.09.

INFN has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. B. Riley lowered Infinera from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a "sell" rating to a "hold" rating in a report on Thursday, November 7th.

Infinera Stock Performance

Infinera stock traded up $0.04 during trading on Friday, hitting $6.60. The stock had a trading volume of 1,293,763 shares, compared to its average volume of 4,548,469. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock's 50 day moving average is $6.66 and its two-hundred day moving average is $6.26. Infinera has a 1 year low of $4.18 and a 1 year high of $6.92. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -13.75 and a beta of 1.67.

Infinera (NASDAQ:INFN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, analysts predict that Infinera will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Infinera

A number of hedge funds have recently made changes to their positions in INFN. Bank of New York Mellon Corp increased its stake in Infinera by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 829,261 shares of the communications equipment provider's stock worth $5,050,000 after purchasing an additional 70,450 shares during the period. DDD Partners LLC increased its holdings in shares of Infinera by 139.9% during the second quarter. DDD Partners LLC now owns 71,244 shares of the communications equipment provider's stock valued at $434,000 after acquiring an additional 41,550 shares in the last quarter. Rhumbline Advisers raised its holdings in Infinera by 6.7% in the second quarter. Rhumbline Advisers now owns 295,585 shares of the communications equipment provider's stock worth $1,800,000 after buying an additional 18,598 shares during the last quarter. Victory Capital Management Inc. lifted its position in Infinera by 7.9% in the 2nd quarter. Victory Capital Management Inc. now owns 144,794 shares of the communications equipment provider's stock valued at $882,000 after acquiring an additional 10,546 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider's stock worth $355,000 after purchasing an additional 2,180 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

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.