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

StockNews.com started coverage on shares of Infinera (NASDAQ:INFN) in a research report sent to investors on Friday. The firm issued a hold rating on the communications equipment provider’s stock.

Infinera Stock Performance

NASDAQ INFN opened at $6.64 on Friday. The company has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $6.65. Infinera has a 12-month low of $4.49 and a 12-month high of $6.92. The firm 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 quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities analysts forecast that Infinera will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Infinera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new position in shares of Infinera in the fourth quarter valued at about $56,240,000. PSquared Asset Management AG grew its stake in shares of Infinera by 131.6% in the fourth 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 increased its holdings in Infinera by 1.0% during 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 raised its position in Infinera by 2.0% during 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 lifted its holdings in Infinera by 12.5% in the 4th 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 period. 97.54% of the stock is currently owned by institutional investors.

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.