Los Angeles Capital Management LLC Decreases Stock Holdings in Infinera Co. (NASDAQ:INFN)

Los Angeles Capital Management LLC lessened its stake in Infinera Co. (NASDAQ:INFN) by 74.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,970 shares of the communications equipment provider’s stock after selling 83,171 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Infinera were worth $175,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Partners Capital Investment Group LLP purchased a new stake in shares of Infinera during the fourth quarter worth about $48,000. Worth Venture Partners LLC purchased a new stake in Infinera during the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC acquired a new position in shares of Infinera during the fourth quarter valued at approximately $56,000. SG Americas Securities LLC purchased a new position in shares of Infinera in the fourth quarter valued at approximately $81,000. Finally, RPO LLC acquired a new stake in shares of Infinera in the fourth quarter worth approximately $82,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Trading Up 1.5 %

Shares of INFN opened at $5.26 on Friday. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.62. The firm has a market capitalization of $1.23 billion, a P/E ratio of -15.47 and a beta of 1.58. The firm has a 50-day moving average price of $5.26 and a 200 day moving average price of $5.11. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The firm had revenue of $306.92 million during the quarter, compared to analysts’ expectations of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Sell-side analysts forecast that Infinera Co. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on INFN. B. Riley reissued a “buy” rating and issued a $9.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Infinera in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Infinera presently has a consensus rating of “Hold” and an average price target of $7.32.

Infinera 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.