Brokerages Set Infinera Co. (NASDAQ:INFN) Target Price at $6.85

Infinera Co. (NASDAQ:INFN - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.85.

INFN has been the topic of several research reports. Needham & Company LLC restated a "strong-buy" rating and set a $10.00 price objective on shares of Infinera in a research note on Thursday, March 7th. StockNews.com lowered Infinera from a "hold" rating to a "sell" rating in a research note on Friday, February 23rd. Stifel Nicolaus reaffirmed a "buy" rating and set a $7.00 price target on shares of Infinera in a research note on Monday, April 1st. Finally, B. Riley reaffirmed a "buy" rating and set a $7.50 price target on shares of Infinera in a research note on Thursday, March 7th.

Institutional Investors Weigh In On Infinera

A number of institutional investors and hedge funds have recently modified their holdings of INFN. Jupiter Asset Management Ltd. lifted its holdings in shares of Infinera by 721.3% in the third quarter. Jupiter Asset Management Ltd. now owns 222,928 shares of the communications equipment provider's stock valued at $932,000 after purchasing an additional 195,786 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Infinera by 1.3% in the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider's stock valued at $101,495,000 after purchasing an additional 314,856 shares in the last quarter. FMR LLC lifted its holdings in shares of 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. Nomura Holdings Inc. lifted its holdings in shares of Infinera by 36.5% in the third quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider's stock valued at $1,913,000 after purchasing an additional 122,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Infinera during the third quarter worth $915,000. Institutional investors and hedge funds own 97.54% of the company's stock.

Infinera Stock Down 6.1 %

Shares of NASDAQ:INFN traded down $0.31 during trading on Friday, hitting $4.79. The company's stock had a trading volume of 4,149,532 shares, compared to its average volume of 4,577,625. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $7.08. The stock's 50-day moving average price is $5.22 and its two-hundred day moving average price is $4.56. The company has a market capitalization of $1.11 billion, a PE ratio of -159.67 and a beta of 1.58.

Infinera (NASDAQ:INFN - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. The business had revenue of $392.37 million for the quarter. As a group, sell-side analysts expect that Infinera will post -0.06 EPS for the current year.

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.