Infinera (NASDAQ:INFN) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Infinera (NASDAQ:INFN) in a report released on Monday morning, StockNewsAPI reports. The firm issued a buy rating and a $10.00 price objective on the communications equipment provider’s stock.

Several other analysts have also commented on INFN. Stifel Nicolaus reissued a buy rating and set a $7.00 target price on shares of Infinera in a research note on Monday, April 1st. StockNews.com lowered shares of Infinera from a hold rating to a sell rating in a research note on Friday, February 23rd. Finally, B. Riley reissued a buy rating and set a $7.50 target price on shares of Infinera in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $6.85.

Infinera Trading Up 2.1 %

Infinera stock opened at $4.82 on Monday. The firm has a 50 day simple moving average of $5.15 and a 200-day simple moving average of $4.59. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.69 and a quick ratio of 0.95. The stock has a market capitalization of $1.12 billion, a PE ratio of -160.67 and a beta of 1.58. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $392.37 million during the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. As a group, equities research analysts expect that Infinera will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. lifted its position in shares of Infinera by 721.3% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 222,928 shares of the communications equipment provider’s stock valued at $932,000 after acquiring an additional 195,786 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Infinera by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after acquiring an additional 314,856 shares in the last quarter. FMR LLC lifted its position in shares of Infinera by 0.6% in the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock valued at $142,281,000 after acquiring an additional 196,237 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Infinera by 36.5% in the 3rd quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider’s stock valued at $1,913,000 after acquiring an additional 122,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Infinera in the 3rd quarter valued at approximately $915,000. Hedge funds and other institutional investors 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.