Infinera (NASDAQ:INFN) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Monday, Marketbeat reports. They presently have a $2.99 price objective on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 5.97% from the company’s current price.

A number of other brokerages also recently issued reports on INFN. Zacks Investment Research raised Infinera from a “hold” rating to a “strong-buy” rating and set a $6.00 target price for the company in a research note on Wednesday, February 27th. BidaskClub raised Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. MKM Partners raised Infinera from a “sell” rating to a “neutral” rating and increased their target price for the stock from $4.25 to $6.00 in a research note on Monday, February 25th. Morgan Stanley set a $6.00 target price on Infinera and gave the stock a “hold” rating in a research note on Friday, February 22nd. Finally, ValuEngine downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.23.

Infinera stock opened at $3.18 on Monday. Infinera has a twelve month low of $2.97 and a twelve month high of $10.25. The company has a quick ratio of 1.10, a current ratio of 1.78 and a debt-to-equity ratio of 0.55. The company has a market cap of $565.34 million, a price-to-earnings ratio of -4.97 and a beta of 0.87.

Infinera (NASDAQ:INFN) last issued its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The business had revenue of $295.60 million during the quarter, compared to the consensus estimate of $311.11 million. Infinera had a negative return on equity of 20.02% and a negative net margin of 29.68%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. As a group, research analysts forecast that Infinera will post -0.9 EPS for the current year.

In other news, CEO Thomas J. Fallon acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $3.32 per share, with a total value of $166,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marcel Gani acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $3.15 per share, with a total value of $315,000.00. Following the completion of the purchase, the director now directly owns 222,281 shares in the company, valued at $700,185.15. The disclosure for this purchase can be found here. Insiders purchased a total of 175,000 shares of company stock valued at $559,250 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DDD Partners LLC purchased a new position in Infinera during the fourth quarter worth $40,000. Principal Financial Group Inc. increased its position in Infinera by 23.5% during the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 3,288 shares in the last quarter. Prudential Financial Inc. increased its position in Infinera by 19.8% during the fourth quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 2,975 shares in the last quarter. Royce & Associates LP purchased a new position in Infinera during the first quarter worth $87,000. Finally, Envestnet Asset Management Inc. purchased a new position in Infinera during the first quarter worth $97,000. 86.32% of the stock is owned by hedge funds and other institutional investors.

About Infinera

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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