StockNews.com started coverage on shares of Infinera (NASDAQ:INFN – Get Rating) in a research report sent to investors on Thursday. The firm issued a hold rating on the communications equipment provider’s stock.
Several other brokerages also recently issued reports on INFN. Needham & Company LLC restated a strong-buy rating and set a $15.00 price objective on shares of Infinera in a research report on Monday, March 13th. Morgan Stanley raised their price objective on shares of Infinera from $7.00 to $7.50 and gave the stock an equal weight rating in a research report on Thursday, March 9th. Finally, Rosenblatt Securities restated a buy rating and set a $9.00 price objective on shares of Infinera in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $9.21.
Infinera Stock Performance
NASDAQ:INFN traded down $0.20 during mid-day trading on Thursday, hitting $7.39. The stock had a trading volume of 2,075,762 shares, compared to its average volume of 3,403,768. Infinera has a twelve month low of $4.26 and a twelve month high of $9.01. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -19.97 and a beta of 1.37. The company’s 50 day simple moving average is $7.26 and its 200 day simple moving average is $6.34. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.08 and a current ratio of 1.61.
Institutional Investors Weigh In On Infinera
A number of hedge funds and other institutional investors have recently made changes to their positions in INFN. Millennium Management LLC raised its position in shares of Infinera by 595.5% in the fourth quarter. Millennium Management LLC now owns 4,287,440 shares of the communications equipment provider’s stock valued at $28,897,000 after buying an additional 3,671,019 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Infinera by 2,649.0% in the third quarter. Assenagon Asset Management S.A. now owns 3,139,829 shares of the communications equipment provider’s stock valued at $15,197,000 after acquiring an additional 3,025,613 shares during the last quarter. Shapiro Capital Management LLC increased its stake in Infinera by 26.5% in the first quarter. Shapiro Capital Management LLC now owns 12,598,788 shares of the communications equipment provider’s stock valued at $109,231,000 after acquiring an additional 2,638,973 shares during the last quarter. Brown Advisory Inc. increased its stake in Infinera by 20.1% in the second quarter. Brown Advisory Inc. now owns 10,685,276 shares of the communications equipment provider’s stock valued at $57,272,000 after acquiring an additional 1,790,155 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in Infinera by 148.1% in the fourth quarter. Two Sigma Investments LP now owns 1,909,681 shares of the communications equipment provider’s stock valued at $12,871,000 after acquiring an additional 1,140,034 shares during the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.
Infinera Company Profile
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.
- Get a free copy of the StockNews.com research report on Infinera (INFN)
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