Needham & Company LLC Initiates Coverage on Infinera (NASDAQ:INFN)

Needham & Company LLC started coverage on shares of Infinera (NASDAQ:INFN) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The brokerage set a “buy” rating and a $10.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 104.50% from the stock’s current price.

A number of other brokerages also recently weighed in on INFN. StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. B. Riley reissued a “buy” rating and set a $7.50 price target on shares of Infinera in a research report on Thursday, March 7th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target on shares of Infinera in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Infinera presently has a consensus rating of “Hold” and a consensus price target of $6.85.

Infinera Stock Performance

Shares of Infinera stock opened at $4.89 on Monday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -163.00 and a beta of 1.58. The stock’s 50-day moving average is $5.15 and its 200-day moving average is $4.60. Infinera has a one year low of $2.82 and a one year high of $6.62. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.69 and a quick ratio of 0.95.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. The company had revenue of $392.37 million for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. Equities analysts predict that Infinera will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Infinera by 12.1% in the fourth quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after purchasing an additional 5,100 shares during the period. Victory Capital Management Inc. grew its holdings in Infinera by 23.2% during the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after acquiring an additional 5,661 shares during the period. Swiss National Bank grew its holdings in Infinera by 1.3% during the 3rd quarter. Swiss National Bank now owns 446,400 shares of the communications equipment provider’s stock worth $1,866,000 after acquiring an additional 5,800 shares during the period. Mackenzie Financial Corp grew its holdings in Infinera by 53.8% during the 4th quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock worth $90,000 after acquiring an additional 6,619 shares during the period. Finally, Barclays PLC grew its holdings in Infinera by 8.7% during the 3rd quarter. Barclays PLC now owns 82,810 shares of the communications equipment provider’s stock worth $346,000 after acquiring an additional 6,628 shares during the period. 97.54% of the stock is currently owned by institutional investors.

About Infinera

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.