Infinera (NASDAQ:INFN) Price Target Raised to $6.65 at Morgan Stanley

Infinera (NASDAQ:INFN) had its price target increased by research analysts at Morgan Stanley from $5.40 to $6.65 in a report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the communications equipment provider’s stock. Morgan Stanley’s price target indicates a potential upside of 7.61% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday. Stifel Nicolaus reissued a “buy” rating and set a $7.00 target price on shares of Infinera in a research report on Wednesday, May 15th. Finally, B. Riley restated a “buy” rating and set a $9.00 target price on shares of Infinera in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.73.

Infinera Trading Up 17.5 %

Shares of INFN traded up $0.92 on Friday, hitting $6.18. 29,620,432 shares of the stock traded hands, compared to its average volume of 3,245,370. Infinera has a 1 year low of $2.82 and a 1 year high of $6.62. The stock’s 50 day moving average is $5.26 and its two-hundred day moving average is $5.11. The firm has a market capitalization of $1.45 billion, a P/E ratio of -18.18 and a beta of 1.58. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The business had revenue of $306.92 million during the quarter, compared to analysts’ expectations of $337.73 million. As a group, sell-side analysts predict that Infinera will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Infinera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Infinera by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,541,049 shares of the communications equipment provider’s stock valued at $6,442,000 after acquiring an additional 69,024 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Infinera by 40.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,022 shares of the communications equipment provider’s stock valued at $1,087,000 after acquiring an additional 74,742 shares in the last quarter. Shapiro Capital Management LLC lifted its holdings in Infinera by 1.5% in 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 purchasing an additional 293,787 shares during the last quarter. ASB Consultores LLC bought a new stake in Infinera during the third quarter worth approximately $93,000. Finally, Vanguard Group Inc. grew its holdings in Infinera by 1.3% during the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after purchasing an additional 314,856 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.