04 May Infinera (INFN) Downgraded by ValuEngine
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Infinera from a hold rating to a strong-buy rating and set a $6.00 price target for the company in a research note on Wednesday, February 27th. BidaskClub upgraded Infinera from a sell rating to a hold rating in a research note on Wednesday, February 27th. MKM Partners upgraded Infinera from a sell rating to a neutral rating and lifted their price target for the company from $4.25 to $6.00 in a research note on Monday, February 25th. Morgan Stanley set a $6.00 price objective on Infinera and gave the company a hold rating in a research report on Friday, February 22nd. Finally, Northland Securities restated a buy rating and issued a $7.00 price objective on shares of Infinera in a research report on Sunday, April 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $8.00.
Shares of NASDAQ:INFN traded up $0.12 during trading on Wednesday, hitting $4.43. 2,507,431 shares of the stock traded hands, compared to its average volume of 2,552,907. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.90 and a quick ratio of 1.28. The firm has a market cap of $785.95 million, a price-to-earnings ratio of -6.92 and a beta of 0.62. Infinera has a 52-week low of $3.54 and a 52-week high of $12.39.
Infinera (NASDAQ:INFN) last posted its earnings results on Thursday, February 21st. The communications equipment provider reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.10. Infinera had a negative net margin of 22.40% and a negative return on equity of 14.96%. The firm had revenue of $332.06 million during the quarter, compared to analyst estimates of $324.85 million. On average, sell-side analysts anticipate that Infinera will post -0.76 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in INFN. DDD Partners LLC purchased a new stake in Infinera during the 4th quarter worth approximately $40,000. Principal Financial Group Inc. increased its stake in Infinera by 23.5% during the 4th quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 3,288 shares in the last quarter. Caption Management LLC purchased a new stake in Infinera during the 4th quarter worth approximately $70,000. Prudential Financial Inc. increased its position in shares of Infinera by 19.8% during the fourth quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock worth $72,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Infinera during the fourth quarter worth approximately $93,000. 85.20% of the stock is owned by institutional investors and hedge funds.
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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