Graypoint LLC Sells 2,576 Shares of Infinera Co. (NASDAQ:INFN)

Graypoint LLC decreased its stake in Infinera Co. (NASDAQ:INFN) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,024 shares of the communications equipment provider’s stock after selling 2,576 shares during the period. Graypoint LLC’s holdings in Infinera were worth $133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its stake in Infinera by 0.6% in the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock valued at $142,281,000 after purchasing an additional 196,237 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Infinera by 1.3% during the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock worth $101,495,000 after purchasing an additional 314,856 shares during the period. Shapiro Capital Management LLC lifted its holdings in shares of Infinera by 1.5% during the third 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 period. Brown Advisory Inc. lifted its holdings in shares of Infinera by 1.7% during the third quarter. Brown Advisory Inc. now owns 13,909,389 shares of the communications equipment provider’s stock worth $58,141,000 after purchasing an additional 237,626 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Infinera by 3.1% during the third quarter. Paradigm Capital Management Inc. NY now owns 4,927,700 shares of the communications equipment provider’s stock worth $20,598,000 after purchasing an additional 149,400 shares during the period. Institutional investors own 97.54% of the company’s stock.

Infinera Trading Down 5.2 %

INFN stock opened at $4.54 on Tuesday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.95. The company’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $4.57.

Infinera (NASDAQ:INFN) last released its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $392.37 million for the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. As a group, research analysts predict that Infinera Co. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INFN has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “strong-buy” rating and set a $10.00 price target on shares of Infinera in a report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Monday, April 1st. StockNews.com lowered shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, B. Riley reiterated a “buy” rating and set a $7.50 price target on shares of Infinera in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Infinera has an average rating of “Moderate Buy” and an average target price of $6.85.

Infinera Company Profile

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.