Infinera (NASDAQ:INFN) Reaches New 12-Month High - Here's Why

Infinera Co. (NASDAQ:INFN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.98 and last traded at $6.98, with a volume of 255 shares trading hands. The stock had previously closed at $6.87.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INFN. Rosenblatt Securities downgraded shares of Infinera from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Craig Hallum reissued a "hold" rating and issued a $6.65 price objective (down from $12.00) on shares of Infinera in a report on Monday, July 1st. B. Riley decreased their target price on Infinera from $9.00 to $6.65 and set a "buy" rating for the company in a report on Monday, August 5th. StockNews.com downgraded shares of Infinera from a "hold" rating to a "sell" rating in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Infinera from $5.40 to $6.65 and gave the company an "equal weight" rating in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Infinera has an average rating of "Hold" and a consensus target price of $7.09.

Infinera Stock Performance

The firm's 50 day moving average is $6.43 and its 200-day moving average is $5.82. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.88 and a beta of 1.72. 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 - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The company's revenue for the quarter was down 8.9% on a year-over-year basis. Analysts forecast that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in INFN. Vanguard Group Inc. increased its holdings in Infinera by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider's stock worth $117,564,000 after acquiring an additional 469,315 shares in the last quarter. Kovack Advisors Inc. increased its stake in shares of Infinera by 39.4% during the first quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider's stock worth $3,307,000 after purchasing an additional 154,904 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider's stock worth $162,000 after purchasing an additional 3,725 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Infinera in the 1st quarter valued at about $627,000. Finally, Graypoint LLC boosted its holdings in Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider's stock worth $184,000 after buying an additional 2,438 shares during 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.