Infinera Co. (NASDAQ:INFN) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC boosted its stake in Infinera Co. (NASDAQ:INFN – Get Rating) by 8.1% in the 3rd quarter, Holdings Channel reports. The firm owned 98,705 shares of the communications equipment provider’s stock after purchasing an additional 7,410 shares during the period. MetLife Investment Management LLC’s holdings in Infinera were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY grew its stake in shares of Infinera by 22.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,483 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 2,073 shares in the last quarter. Veritable L.P. grew its position in Infinera by 42.3% in the 3rd quarter. Veritable L.P. now owns 14,953 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 4,446 shares in the last quarter. Cipher Capital LP purchased a new stake in Infinera during the third quarter worth about $133,000. Brown Advisory Inc. lifted its position in shares of Infinera by 1.8% during the third quarter. Brown Advisory Inc. now owns 11,269,045 shares of the communications equipment provider’s stock worth $54,542,000 after purchasing an additional 202,395 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Infinera by 20.1% in the third quarter. Envestnet Asset Management Inc. now owns 85,202 shares of the communications equipment provider’s stock valued at $412,000 after purchasing an additional 14,261 shares during the period. Hedge funds and other institutional investors own 97.74% of the company’s stock.

Wall Street Analyst Weigh In

INFN has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 target price on shares of Infinera in a report on Friday, February 24th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $15.00 target price on shares of Infinera in a report on Friday, February 24th. Finally, Morgan Stanley upped their price target on Infinera from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

Infinera Stock Performance

NASDAQ:INFN opened at $7.28 on Friday. Infinera Co. has a 12 month low of $4.26 and a 12 month high of $9.20. The company has a debt-to-equity ratio of 3.72, a current ratio of 1.61 and a quick ratio of 1.13. The firm has a market capitalization of $1.62 billion, a PE ratio of -19.68 and a beta of 1.37. The business’s fifty day moving average price is $7.13 and its 200 day moving average price is $6.22.

Infinera (NASDAQ:INFN – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $485.90 million for the quarter, compared to the consensus estimate of $436.06 million. Infinera had a negative return on equity of 21.63% and a negative net margin of 4.83%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS.

Infinera Company Profile

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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.