Charles Schwab Investment Management Inc. Increases Stock Holdings in Infinera Co. (NASDAQ:INFN)

Charles Schwab Investment Management Inc. increased its holdings in Infinera Co. (NASDAQ:INFN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,713,396 shares of the communications equipment provider’s stock after purchasing an additional 14,588 shares during the period. Charles Schwab Investment Management Inc. owned 0.72% of Infinera worth $11,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Infinera in the third quarter valued at $40,000. Palumbo Wealth Management LLC boosted its holdings in Infinera by 41.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider’s stock valued at $223,000 after acquiring an additional 9,929 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Infinera by 20.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after acquiring an additional 8,363 shares during the last quarter. Intech Investment Management LLC acquired a new position in Infinera in the third quarter valued at $354,000. Finally, SG Americas Securities LLC boosted its holdings in Infinera by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock valued at $637,000 after acquiring an additional 14,595 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Stock Performance

Shares of INFN opened at $6.64 on Friday. The stock’s 50-day moving average is $6.63 and its two-hundred day moving average is $6.63. The stock has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. Infinera Co. has a 12 month low of $4.49 and a 12 month high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on Infinera in a report on Thursday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.09.

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.