Infinera (NASDAQ:INFN) Raised to Hold at Berenberg Bank

Berenberg Bank upgraded shares of Infinera (NASDAQ:INFN) to a hold rating in a report issued on Monday, Zacks.com reports.

A number of other research firms have also issued reports on INFN. B. Riley lowered their target price on Infinera from $9.00 to $6.65 and set a buy rating for the company in a research note on Monday. Stifel Nicolaus restated a buy rating and set a $7.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. Rosenblatt Securities lowered Infinera from a buy rating to a neutral rating and lowered their price objective for the company from $8.00 to $6.65 in a research note on Monday. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the company an underweight rating in a research note on Tuesday. Finally, Needham & Company LLC restated a hold rating on shares of Infinera in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $7.09.

Infinera Stock Performance

Shares of NASDAQ:INFN opened at $5.69 on Monday. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62. The firm has a market capitalization of $1.33 billion, a PE ratio of -16.74 and a beta of 1.64. The business has a 50-day moving average of $5.74 and a two-hundred day moving average of $5.37.

Infinera (NASDAQ:INFN) last posted its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The business had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, research analysts forecast that Infinera will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INFN. SG Americas Securities LLC bought a new position in Infinera during the 4th quarter worth approximately $81,000. Mackenzie Financial Corp lifted its holdings in shares of Infinera by 53.8% in the 4th quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock worth $90,000 after purchasing an additional 6,619 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Infinera by 38.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,155 shares of the communications equipment provider’s stock worth $224,000 after purchasing an additional 12,983 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Infinera in the 4th quarter worth approximately $194,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Infinera by 12.1% in the 4th quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock worth $225,000 after purchasing an additional 5,100 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

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.