Brokerages Set Infinera Co. (NASDAQ:INFN) Price Target at $7.09

Shares of Infinera Co. (NASDAQ:INFN) have received an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.09.

Separately, StockNews.com initiated coverage on Infinera in a research report on Tuesday, April 29th. They set a “hold” rating for the company.

Infinera Price Performance

NASDAQ INFN opened at $6.64 on Thursday. Infinera has a one year low of $4.93 and a one year high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The business has a fifty day moving average price of $6.64 and a 200 day moving average price of $6.64. The company has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The company had revenue of $414.39 million during the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Research analysts anticipate that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC acquired a new position in shares of Infinera in the 4th quarter valued at $56,240,000. PSquared Asset Management AG lifted its holdings in shares of Infinera by 131.6% in the 4th quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock valued at $36,831,000 after purchasing an additional 3,185,500 shares during the last quarter. Wellington Management Group LLP lifted its stake in Infinera by 2.0% in the fourth quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock valued at $17,675,000 after buying an additional 52,381 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Infinera by 12.5% in the fourth quarter. Northern Trust Corp now owns 1,977,504 shares of the communications equipment provider’s stock valued at $12,992,000 after acquiring an additional 219,427 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Infinera by 4.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,781,476 shares of the communications equipment provider’s stock worth $12,133,000 after acquiring an additional 73,049 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Company Profile

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.