Infinera (NASDAQ:INFN) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research note published on Saturday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

Infinera Stock Performance

Infinera stock opened at $6.64 on Friday. Infinera has a 12-month low of $4.49 and a 12-month high of $6.92. The stock has a 50-day simple moving average of $6.64 and a 200 day simple moving average of $6.65. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last announced its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The company had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, research analysts anticipate that Infinera will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Magnetar Financial LLC bought a new position in Infinera in the fourth quarter valued at about $56,240,000. PSquared Asset Management AG boosted its stake in shares of Infinera by 131.6% in the 4th quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock valued at $36,831,000 after purchasing an additional 3,185,500 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Infinera by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock worth $32,605,000 after buying an additional 47,925 shares during the period. Wellington Management Group LLP raised its stake in shares of Infinera by 2.0% during the fourth quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock worth $17,675,000 after buying an additional 52,381 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Infinera by 12.5% in the fourth quarter. Northern Trust Corp now owns 1,977,504 shares of the communications equipment provider’s stock valued at $12,992,000 after buying an additional 219,427 shares during the period. Institutional investors 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.