Infinera (NASDAQ:INFN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.
A number of other brokerages also recently commented on INFN. Zacks Investment Research upgraded shares of Infinera from a “hold” rating to a “strong-buy” rating and set a $6.00 target price for the company in a research note on Wednesday, February 27th. MKM Partners upgraded shares of Infinera from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $4.25 to $6.00 in a research note on Monday, February 25th. Morgan Stanley set a $6.00 target price on shares of Infinera and gave the stock a “hold” rating in a research note on Friday, February 22nd. Finally, ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Infinera presently has an average rating of “Hold” and a consensus price target of $8.36.
Shares of INFN stock opened at $4.75 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.92 and a quick ratio of 2.95. The firm has a market cap of $855.70 million, a P/E ratio of -7.42 and a beta of 0.65. Infinera has a 12 month low of $3.54 and a 12 month high of $12.39.
Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, February 21st. The communications equipment provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.10. The firm had revenue of $332.06 million during the quarter, compared to the consensus estimate of $324.85 million. Infinera had a negative net margin of 22.40% and a negative return on equity of 15.14%. On average, sell-side analysts anticipate that Infinera will post -0.76 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in Infinera by 6.9% in the third quarter. Vanguard Group Inc now owns 14,318,728 shares of the communications equipment provider’s stock valued at $104,526,000 after acquiring an additional 918,279 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Infinera by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,965,897 shares of the communications equipment provider’s stock valued at $23,804,000 after acquiring an additional 49,125 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Infinera in the fourth quarter valued at $770,000. The Manufacturers Life Insurance Company boosted its stake in Infinera by 34.4% in the third quarter. The Manufacturers Life Insurance Company now owns 972,617 shares of the communications equipment provider’s stock valued at $7,101,000 after acquiring an additional 249,104 shares in the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in Infinera in the third quarter valued at $370,000. Institutional investors own 86.04% of the company’s stock.
Infinera Company Profile
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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