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

Shares of Infinera Co. (NASDAQ:INFN - Get Free Report) have been given an average rating of "Hold" by the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.09.

A number of brokerages have weighed in on INFN. Berenberg Bank raised Infinera to a "hold" rating in a research report on Monday, August 5th. B. Riley reduced their price objective on shares of Infinera from $9.00 to $6.65 and set a "buy" rating for the company in a research report on Monday, August 5th. Rosenblatt Securities cut shares of Infinera from a "buy" rating to a "neutral" rating and cut their target price for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price target 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. Finally, StockNews.com downgraded shares of Infinera from a "hold" rating to a "sell" rating in a research report on Monday, October 21st.

Infinera Trading Down 0.3 %

Shares of NASDAQ INFN traded down $0.02 during mid-day trading on Thursday, hitting $6.72. The company's stock had a trading volume of 326,668 shares, compared to its average volume of 5,150,896. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. Infinera has a one year low of $2.83 and a one year high of $6.92. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -19.82 and a beta of 1.72. The company's fifty day simple moving average is $6.57 and its 200-day simple moving average is $5.90.

Infinera (NASDAQ:INFN - Get Free Report) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $342.70 million for the quarter, compared to analysts' expectations of $331.71 million. The company's revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Infinera will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of hedge funds have recently added to or reduced their stakes in INFN. Palumbo Wealth Management LLC raised its stake in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider's stock worth $355,000 after buying an additional 2,180 shares in the last quarter. Graypoint LLC increased its holdings in shares of Infinera by 8.7% during the first 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 in the last quarter. ProShare Advisors LLC lifted its stake in shares of Infinera by 8.5% in the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider's stock worth $216,000 after acquiring an additional 2,821 shares during the period. Finally, Principal Financial Group Inc. boosted 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 acquiring an additional 3,725 shares during the last quarter. Institutional investors own 97.54% of the company's stock.

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.