Infinera (NASDAQ:INFN) had its price objective upped by stock analysts at Morgan Stanley from $5.00 to $8.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an "equal weight" rating on the communications equipment provider's stock. Morgan Stanley's price target suggests a potential upside of 2.56% from the company's current price.
INFN has been the subject of a number of other reports. MKM Partners boosted their price target on shares of Infinera from $7.50 to $8.50 and gave the stock a "buy" rating in a research note on Friday, June 19th. B. Riley reissued a "buy" rating on shares of Infinera in a research report on Wednesday, July 29th. Northland Securities cut Infinera from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $9.00 to $5.00 in a report on Wednesday, May 13th. Wolfe Research assumed coverage on Infinera in a research report on Friday, July 24th. They set an "underperform" rating and a $6.00 price target for the company. Finally, Citigroup raised their target price on shares of Infinera from $4.00 to $7.00 and gave the company a "sell" rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of "Hold" and an average price target of $7.63.
Infinera stock opened at $7.80 on Thursday. The business's fifty day moving average is $6.58 and its two-hundred day moving average is $6.17. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.15 and a current ratio of 1.68. The firm has a market cap of $1.52 billion, a P/E ratio of -3.84 and a beta of 1.09. Infinera has a 52 week low of $3.54 and a 52 week high of $8.36.
Infinera (NASDAQ:INFN) last announced its earnings results on Wednesday, August 5th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.14) by $0.05. Infinera had a negative net margin of 27.26% and a negative return on equity of 37.47%. On average, equities research analysts predict that Infinera will post -0.71 earnings per share for the current year.
In other news, COO David W. Heard purchased 15,000 shares of Infinera stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $4.33 per share, for a total transaction of $64,950.00. Following the transaction, the chief operating officer now owns 193,207 shares of the company's stock, valued at approximately $836,586.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.82% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Infinera by 50.3% during the 2nd quarter. Principal Financial Group Inc. now owns 21,736 shares of the communications equipment provider's stock worth $129,000 after buying an additional 7,274 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Infinera by 8.8% during the second quarter. Russell Investments Group Ltd. now owns 462,126 shares of the communications equipment provider's stock worth $2,733,000 after acquiring an additional 37,338 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Infinera by 15.1% in the second quarter. Swiss National Bank now owns 363,300 shares of the communications equipment provider's stock worth $2,151,000 after acquiring an additional 47,700 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Infinera by 103.3% in the 2nd quarter. ProShare Advisors LLC now owns 21,159 shares of the communications equipment provider's stock valued at $125,000 after purchasing an additional 10,753 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in Infinera by 20.0% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,725,750 shares of the communications equipment provider's stock worth $10,216,000 after purchasing an additional 288,007 shares in the last quarter. Institutional investors own 86.85% of the company's stock.
Infinera Company Profile
Infinera Corporation provides optical transport networking 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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