Infinera Co. (NASDAQ:INFN) Stock Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of Infinera Co. (NASDAQ:INFN) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,741 shares of the communications equipment provider’s stock after purchasing an additional 5,445 shares during the period. Rhumbline Advisers owned 0.12% of Infinera worth $1,923,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Infinera by 1.0% during the third quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock valued at $32,605,000 after acquiring an additional 47,925 shares in the last quarter. Citigroup Inc. increased its stake in shares of Infinera by 2,104.8% during the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after purchasing an additional 2,782,789 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Infinera during the 3rd quarter worth $13,761,000. Sand Grove Capital Management LLP bought a new position in shares of Infinera during the 3rd quarter valued at $12,517,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Infinera by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock valued at $11,467,000 after purchasing an additional 39,917 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Stock Performance

Shares of Infinera stock opened at $6.64 on Tuesday. Infinera Co. has a 1 year low of $4.41 and a 1 year high of $6.92. The company’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $6.59. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. 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 Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $414.39 million during 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%. As a group, sell-side analysts expect that Infinera Co. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

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

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.