Infinera (NASDAQ:INFN) Now Covered by Needham & Company LLC

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

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

Infinera Stock Performance

Infinera stock opened at $4.97 on Monday. The stock’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $4.61. 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 quick ratio of 0.95 and a current ratio of 1.69.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data 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 firm had revenue of $392.37 million for the quarter. Analysts anticipate that Infinera will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INFN. Brown Advisory Inc. lifted its holdings in Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after buying an additional 1,108,567 shares during the period. Vanguard Group Inc. lifted its holdings in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after buying an additional 469,315 shares during the period. Shapiro Capital Management LLC lifted its holdings in Infinera by 1.5% during the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after buying an additional 293,787 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Infinera in the 3rd quarter valued at about $915,000. Finally, FMR LLC lifted its stake in shares of Infinera by 0.6% in the 3rd 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 during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

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.