Needham & Company LLC restated their strong-buy rating on shares of Infinera (NASDAQ:INFN – Get Rating) in a research report report published on Monday, Benzinga reports. They currently have a $15.00 price target on the communications equipment provider’s stock.
Several other analysts also recently issued reports on INFN. Morgan Stanley upped their price objective on Infinera from $7.00 to $7.50 and gave the company an equal weight rating in a research report on Thursday, March 9th. Rosenblatt Securities reiterated a buy rating and set a $9.00 target price on shares of Infinera in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $9.21.
Infinera Stock Down 4.7 %
Shares of NASDAQ:INFN opened at $6.85 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 3.72. Infinera has a 52-week low of $4.26 and a 52-week high of $9.01. The stock’s fifty day simple moving average is $7.21 and its 200-day simple moving average is $6.29. The company has a market capitalization of $1.53 billion, a P/E ratio of -18.51 and a beta of 1.37.
Institutional Investors Weigh In On Infinera
Several institutional investors and hedge funds have recently added to or reduced their stakes in INFN. Rockefeller Capital Management L.P. increased its stake in Infinera by 54.1% during the third quarter. Rockefeller Capital Management L.P. now owns 6,304 shares of the communications equipment provider’s stock worth $30,000 after acquiring an additional 2,212 shares during the last quarter. Autumn Glory Partners LLC acquired a new stake in Infinera during the third quarter worth about $48,000. Eagle Bay Advisors LLC increased its stake in Infinera by 200.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,841 shares of the communications equipment provider’s stock worth $53,000 after acquiring an additional 5,229 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in Infinera by 22.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 11,483 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 2,073 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Infinera during the fourth quarter worth about $57,000. 97.74% of the stock is currently owned by institutional investors and hedge funds.
Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.
- Get a free copy of the StockNews.com research report on Infinera (INFN)
- First Republic: First Rate Risk or Time To Buy?
- These Hedge Funds Are Getting Crushed By SVB
- Buy The Dip In The Charles Schwab Corporation
- ZIM Integrated Shipping Services: Up 15% But Don’t Chase It
- FedEx Is A Buy Going Into Earnings
Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.