Infinera (NASDAQ:INFN) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Infinera (NASDAQ:INFN - Free Report) in a report released on Monday, StockNewsAPI reports. The firm issued a buy rating and a $10.00 target price on the communications equipment provider's stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and issued a $7.00 price target on shares of Infinera in a research report on Monday, April 1st. B. Riley restated a buy rating and issued a $7.50 price target on shares of Infinera in a research report on Thursday, March 7th. Finally, StockNews.com lowered Infinera from a hold rating to a sell rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Infinera currently has a consensus rating of Hold and a consensus price target of $6.85.

Infinera Price Performance

NASDAQ:INFN traded up $0.10 during trading hours on Monday, hitting $4.82. The company's stock had a trading volume of 2,356,474 shares, compared to its average volume of 3,405,628. Infinera has a 52-week low of $2.82 and a 52-week high of $6.62. The company has a market capitalization of $1.12 billion, a PE ratio of -157.00 and a beta of 1.58. The business's 50-day moving average is $5.16 and its two-hundred day moving average is $4.59. 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 (NASDAQ:INFN - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share 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 during the quarter. As a group, research analysts anticipate that Infinera will post -0.06 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of hedge funds have recently added to or reduced their stakes in INFN. DDD Partners LLC acquired a new stake in Infinera in the 3rd quarter worth about $62,000. Asset Management One Co. Ltd. boosted its stake in Infinera by 70.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 29,003 shares of the communications equipment provider's stock worth $121,000 after buying an additional 11,974 shares during the last quarter. Brown Advisory Inc. boosted its stake in Infinera by 1.7% in the 3rd quarter. Brown Advisory Inc. now owns 13,909,389 shares of the communications equipment provider's stock worth $58,141,000 after buying an additional 237,626 shares during the last quarter. Advisor Partners II LLC acquired a new stake in Infinera in the 3rd quarter worth about $163,000. Finally, Inspire Investing LLC acquired a new stake in Infinera in the 3rd quarter worth about $307,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.