Infinera (NASDAQ:INFN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera’s large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera’s DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. “

A number of other equities analysts also recently weighed in on INFN. MKM Partners downgraded Infinera from a buy rating to a neutral rating and dropped their target price for the company from $11.50 to $9.00 in a report on Friday, September 24th. JPMorgan Chase & Co. downgraded Infinera from a neutral rating to an underweight rating and dropped their target price for the company from $11.00 to $9.00 in a report on Monday, October 18th. Finally, Needham & Company LLC reiterated a buy rating and issued a $15.00 target price on shares of Infinera in a report on Monday, September 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Infinera currently has a consensus rating of Hold and a consensus target price of $10.36.

Shares of NASDAQ INFN opened at $9.03 on Wednesday. Infinera has a twelve month low of $7.22 and a twelve month high of $11.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.75 and a quick ratio of 1.19. The firm has a 50-day moving average of $8.94 and a two-hundred day moving average of $8.84.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, November 3rd. The communications equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $355.81 million during the quarter, compared to analyst estimates of $355.66 million. Infinera had a negative net margin of 10.71% and a negative return on equity of 9.41%. During the same period in the prior year, the firm earned ($0.03) earnings per share. Equities analysts predict that Infinera will post -0.28 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new stake in Infinera during the third quarter worth approximately $55,000. Macquarie Group Ltd. boosted its position in Infinera by 272.6% during the third quarter. Macquarie Group Ltd. now owns 7,932 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 5,803 shares during the period. Gotham Asset Management LLC bought a new stake in Infinera during the third quarter worth approximately $86,000. Robertson Stephens Wealth Management LLC bought a new stake in Infinera during the second quarter worth approximately $102,000. Finally, Pinz Capital Management LP bought a new stake in Infinera during the second quarter worth approximately $106,000. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Infinera Company Profile

Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.

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