Zacks Investment Research upgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $6.00 price objective on the communications equipment provider’s stock.
According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “
Several other analysts have also recently weighed in on INFN. ValuEngine raised Infinera from a sell rating to a hold rating in a report on Thursday, November 1st. BidaskClub raised Infinera from a sell rating to a hold rating in a report on Saturday, November 3rd. B. Riley lowered their price target on Infinera from $6.50 to $5.50 and set a neutral rating on the stock in a report on Monday, November 5th. Piper Jaffray Companies lowered their price target on Infinera to $6.50 and set a neutral rating on the stock in a report on Wednesday, November 7th. Finally, Needham & Company LLC lowered their price target on Infinera from $14.00 to $9.00 and set a strong-buy rating on the stock in a report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.60.
Shares of NASDAQ INFN opened at $5.14 on Wednesday. Infinera has a 52 week low of $3.54 and a 52 week high of $12.39. The company has a quick ratio of 2.95, a current ratio of 3.92 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $920.43 million, a price-to-earnings ratio of -8.03 and a beta of 0.55.
Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, February 21st. The communications equipment provider reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.10. Infinera had a negative return on equity of 15.14% and a negative net margin of 22.40%. The business had revenue of $332.06 million during the quarter, compared to the consensus estimate of $324.85 million. On average, equities analysts forecast that Infinera will post -0.77 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Infinera by 13.4% during the 4th quarter. FMR LLC now owns 26,204,780 shares of the communications equipment provider’s stock valued at $104,557,000 after buying an additional 3,104,780 shares in the last quarter. Oaktree Capital Management LP purchased a new position in shares of Infinera during the 4th quarter valued at about $83,692,000. Legal & General Group Plc raised its holdings in shares of Infinera by 52.4% during the 4th quarter. Legal & General Group Plc now owns 75,878 shares of the communications equipment provider’s stock valued at $303,000 after buying an additional 26,077 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Infinera by 354.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 47,175 shares of the communications equipment provider’s stock valued at $188,000 after buying an additional 36,785 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Infinera by 424.6% during the 4th quarter. Squarepoint Ops LLC now owns 826,774 shares of the communications equipment provider’s stock valued at $3,299,000 after buying an additional 669,186 shares in the last quarter. 74.56% of the stock is currently owned by institutional investors.
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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