Geode Capital Management LLC Raises Stock Position in Infinera Co. (NASDAQ:INFN)

Geode Capital Management LLC boosted its position in Infinera Co. (NASDAQ:INFN) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,829,486 shares of the communications equipment provider’s stock after purchasing an additional 47,925 shares during the quarter. Geode Capital Management LLC owned about 2.04% of Infinera worth $32,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Infinera by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 829,261 shares of the communications equipment provider’s stock worth $5,050,000 after buying an additional 70,450 shares in the last quarter. DDD Partners LLC raised its holdings in shares of Infinera by 139.9% in the 2nd quarter. DDD Partners LLC now owns 71,244 shares of the communications equipment provider’s stock valued at $434,000 after acquiring an additional 41,550 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Infinera by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 295,585 shares of the communications equipment provider’s stock valued at $1,800,000 after acquiring an additional 18,598 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Infinera by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 144,794 shares of the communications equipment provider’s stock valued at $882,000 after acquiring an additional 10,546 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Infinera by 3.9% during the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after purchasing an additional 2,180 shares in the last quarter. 97.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INFN has been the subject of several research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Up 0.5 %

INFN opened at $6.62 on Thursday. The company has a market cap of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.67. Infinera Co. has a 12 month low of $4.18 and a 12 month high of $6.92. The business’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.29. 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 (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities analysts expect that Infinera Co. will post -0.25 EPS for the current year.

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.