Stifel Nicolaus Analysts Give Infinera (NASDAQ:INFN) a $6.00 Price Target

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Infinera (NASDAQ:INFN) has been assigned a $6.00 target price by Stifel Nicolaus in a note issued to investors on Thursday, TipRanks reports. The firm currently has a “hold” rating on the communications equipment provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 11.94% from the company’s current price.

Other equities analysts have also issued reports about the company. B. Riley raised Infinera from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.75 to $6.00 in a research report on Tuesday, July 23rd. Raymond James raised Infinera from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered Infinera from a “neutral” rating to an “underweight” rating and set a $2.99 target price on the stock. in a research report on Monday, June 3rd. Goldman Sachs Group raised Infinera from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, BidaskClub upgraded Infinera from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Infinera has an average rating of “Hold” and an average price target of $5.95.

Shares of NASDAQ INFN traded down $0.13 during mid-day trading on Thursday, hitting $5.36. 2,557,201 shares of the company were exchanged, compared to its average volume of 2,595,145. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $4.06. Infinera has a 1-year low of $2.80 and a 1-year high of $7.50. The firm has a market cap of $984.89 million, a price-to-earnings ratio of -8.38 and a beta of 0.60.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.11. The firm had revenue of $296.25 million during the quarter, compared to the consensus estimate of $300.40 million. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Analysts anticipate that Infinera will post -0.91 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Infinera by 0.6% during the first quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock valued at $114,380,000 after purchasing an additional 150,000 shares during the last quarter. Divisar Capital Management LLC lifted its stake in Infinera by 6.6% in the 2nd quarter. Divisar Capital Management LLC now owns 3,313,674 shares of the communications equipment provider’s stock worth $9,643,000 after acquiring an additional 206,432 shares in the last quarter. Northern Trust Corp increased its position in Infinera by 3.0% in the 2nd quarter. Northern Trust Corp now owns 1,855,665 shares of the communications equipment provider’s stock worth $5,400,000 after purchasing an additional 53,814 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position in Infinera by 45.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,198,000 shares of the communications equipment provider’s stock worth $3,486,000 after purchasing an additional 373,700 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Infinera by 4.6% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 975,774 shares of the communications equipment provider’s stock worth $2,840,000 after purchasing an additional 43,194 shares during the last quarter. Institutional investors and hedge funds own 79.14% of the company’s stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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