Infinera (NASDAQ:INFN) Receives "Neutral" Rating from Rosenblatt Securities

Infinera (NASDAQ:INFN - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $6.65 price target on the communications equipment provider's stock. Rosenblatt Securities' price target would indicate a potential downside of 0.75% from the company's previous close.

INFN has been the topic of several other research reports. StockNews.com lowered shares of Infinera from a "hold" rating to a "sell" rating in a report on Monday, October 21st. B. Riley dropped their price objective on shares of Infinera from $9.00 to $6.65 and set a "buy" rating on the stock in a report on Monday, August 5th. 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 report on Tuesday, August 6th. Finally, Berenberg Bank upgraded shares of Infinera to a "hold" rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.09.

Infinera Stock Down 0.1 %

Shares of NASDAQ INFN traded down $0.01 during trading on Wednesday, hitting $6.70. 1,720,380 shares of the company traded hands, compared to its average volume of 5,075,968. The business's fifty day moving average is $6.62 and its 200 day moving average is $5.96. Infinera has a fifty-two week low of $2.98 and a fifty-two week high of $6.92. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -14.61 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57.

Institutional Investors Weigh In On Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in INFN. AIGH Capital Management LLC increased its stake in 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 valued at $20,515,000 after buying an additional 2,479,272 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider's stock valued at $163,108,000 after acquiring an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider's stock valued at $67,343,000 after acquiring an additional 2,025,658 shares during the period. Water Island Capital LLC bought a new position in shares of Infinera during the 2nd quarter valued at approximately $9,196,000. Finally, Hood River Capital Management LLC grew its position in shares of Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider's stock valued at $25,098,000 after acquiring an additional 1,432,016 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

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.