StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

Equities research analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report released on Saturday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Price Performance

NASDAQ:INFN opened at $6.64 on Friday. Infinera has a 1 year low of $4.49 and a 1 year high of $6.92. The stock has a 50-day moving average price of $6.64 and a two-hundred day moving average price of $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. 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 released its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. As a group, equities analysts expect that Infinera will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Magnetar Financial LLC acquired a new position in Infinera during the fourth quarter worth $56,240,000. PSquared Asset Management AG increased its stake in shares of Infinera by 131.6% during the 4th quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock worth $36,831,000 after purchasing an additional 3,185,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Infinera by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock valued at $32,605,000 after purchasing an additional 47,925 shares during the period. Wellington Management Group LLP lifted its stake in Infinera by 2.0% in the 4th quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock valued at $17,675,000 after purchasing an additional 52,381 shares during the last quarter. Finally, Northern Trust Corp increased its position in Infinera by 12.5% during the fourth quarter. Northern Trust Corp now owns 1,977,504 shares of the communications equipment provider’s stock worth $12,992,000 after buying an additional 219,427 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.