A number of other equities analysts have also recently weighed in on INFN. Rosenblatt Securities reissued a hold rating and issued a $4.00 price objective on shares of Infinera in a research report on Thursday, August 8th. Raymond James raised shares of Infinera from an underperform rating to a market perform rating in a research report on Thursday, August 8th. Goldman Sachs Group raised shares of Infinera from a neutral rating to a buy rating in a research report on Thursday, August 8th. Northland Securities reaffirmed a buy rating and set a $7.00 price target on shares of Infinera in a research report on Thursday, May 9th. Finally, Zacks Investment Research cut shares of Infinera from a hold rating to a sell rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Infinera has a consensus rating of Hold and an average target price of $6.14.
NASDAQ:INFN opened at $4.76 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.54 and a quick ratio of 1.10. The firm has a 50-day moving average of $3.53 and a two-hundred day moving average of $4.02. The stock has a market cap of $848.55 million, a P/E ratio of -7.44 and a beta of 0.80. Infinera has a 1-year low of $2.80 and a 1-year high of $9.54.
Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.11. The company had revenue of $296.25 million during the quarter, compared to analysts’ expectations of $300.40 million. Infinera had a negative net margin of 35.53% and a negative return on equity of 27.60%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. As a group, equities analysts expect that Infinera will post -0.91 earnings per share for the current year.
In other Infinera news, COO David W. Heard acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average price of $3.13 per share, for a total transaction of $78,250.00. Following the completion of the purchase, the chief operating officer now directly owns 80,816 shares in the company, valued at $252,954.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFN. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Infinera by 95.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 10,733 shares during the period. Principal Financial Group Inc. increased its stake in shares of Infinera by 23.5% during the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock valued at $69,000 after acquiring an additional 3,288 shares during the period. US Bancorp DE increased its stake in shares of Infinera by 20.1% during the second quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 4,051 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Infinera during the second quarter valued at approximately $76,000. Finally, Royce & Associates LP acquired a new position in shares of Infinera during the first quarter valued at approximately $87,000. Hedge funds and other institutional investors own 83.01% 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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