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 research report sent to investors on Monday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $10.00 price target on the communications equipment provider’s stock.

A number of other analysts have also weighed in on INFN. StockNews.com lowered shares of Infinera from a hold rating to a sell rating in a research report on Friday, February 23rd. B. Riley reiterated a buy rating and set a $7.50 price target on shares of Infinera in a report on Thursday, March 7th. Finally, Stifel Nicolaus reiterated a buy rating and set a $7.00 price target on shares of Infinera in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Infinera has a consensus rating of Hold and a consensus price target of $6.85.

Infinera Stock Up 1.8 %

Shares of INFN opened at $4.98 on Monday. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62. The firm’s 50 day moving average is $5.15 and its 200-day moving average is $4.60. The stock has a market capitalization of $1.15 billion, a PE ratio of -166.00 and a beta of 1.58. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 3.63.

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

Institutional Investors Weigh In On Infinera

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Infinera by 0.6% in the third quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock valued at $142,281,000 after purchasing an additional 196,237 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Infinera by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after acquiring an additional 469,315 shares in the last quarter. Shapiro Capital Management LLC increased its position in shares of Infinera by 1.5% during the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after acquiring an additional 293,787 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Infinera by 8.0% during the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after acquiring an additional 1,108,567 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in shares of Infinera by 3.1% during the third quarter. Paradigm Capital Management Inc. NY now owns 4,927,700 shares of the communications equipment provider’s stock worth $20,598,000 after acquiring an additional 149,400 shares in the last quarter. 97.54% of the stock is owned by institutional investors.

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.