Vanguard Group Inc. Boosts Stock Holdings in Infinera Co. (NASDAQ:INFN)

Vanguard Group Inc. raised its position in shares of Infinera Co. (NASDAQ:INFN) by 0.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,210,746 shares of the communications equipment provider’s stock after acquiring an additional 36,616 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Infinera worth $165,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INFN. Victory Capital Management Inc. increased its position in shares of Infinera by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock worth $856,000 after purchasing an additional 3,776 shares in the last quarter. Vestcor Inc acquired a new stake in Infinera during the 4th quarter worth $34,000. Rhumbline Advisers grew its holdings in shares of Infinera by 1.9% during the fourth quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock worth $1,923,000 after buying an additional 5,445 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Infinera in the third quarter valued at about $40,000. Finally, Tidal Investments LLC lifted its stake in shares of Infinera by 4.9% in the third quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock worth $870,000 after buying an additional 6,066 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Infinera in a research note on Saturday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Infinera presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

Shares of INFN stock opened at $6.64 on Monday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. Infinera Co. has a twelve month low of $4.49 and a twelve month high of $6.92. The company’s 50-day moving average price is $6.64 and its 200-day moving average price is $6.65. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last posted its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm had revenue of $414.39 million during the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, equities analysts predict that Infinera Co. will post -0.33 earnings per share for the current year.

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.