Infinera’s (INFN) Neutral Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Infinera (NASDAQ:INFN) in a report issued on Wednesday morning, Benzinga reports. Rosenblatt Securities currently has a $6.65 target price on the communications equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the company. B. Riley cut their price target on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. StockNews.com cut Infinera from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their target price on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Infinera currently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

Shares of NASDAQ:INFN traded down $0.02 during midday trading on Wednesday, hitting $6.68. The company had a trading volume of 176,402 shares, compared to its average volume of 5,053,285. Infinera has a twelve month low of $3.07 and a twelve month high of $6.92. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -14.56 and a beta of 1.71. The business’s 50-day simple moving average is $6.63 and its 200-day simple moving average is $5.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INFN. AIGH Capital Management LLC boosted its position in shares of Infinera by 278.8% during the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after buying an additional 2,479,272 shares during the period. Vanguard Group Inc. boosted its holdings in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Infinera by 22.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after purchasing an additional 2,025,658 shares during the period. Water Island Capital LLC purchased a new position in Infinera in the second quarter valued at $9,196,000. Finally, Hood River Capital Management LLC boosted its holdings in Infinera by 52.5% in the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after purchasing an additional 1,432,016 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.