Infinera (NASDAQ:INFN) Now Covered by StockNews.com

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.

Infinera (NASDAQ:INFN – Get Rating) last issued its earnings results on Thursday, February 23rd. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. Infinera had a negative net margin of 4.83% and a negative return on equity of 21.63%. The business had revenue of $485.90 million during the quarter, compared to the consensus estimate of $436.06 million. During the same period last year, the business posted ($0.03) EPS. Infinera’s revenue was up 21.4% on a year-over-year basis. On average, equities research analysts forecast that Infinera will post -0.01 earnings per share for the current year.

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

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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.