Geode Capital Management LLC Increases Stake in Infinera Co. (NASDAQ:INFN)

Geode Capital Management LLC boosted its stake in Infinera Co. (NASDAQ:INFN) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,829,486 shares of the communications equipment provider’s stock after buying an additional 47,925 shares during the period. Geode Capital Management LLC’s holdings in Infinera were worth $32,605,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Citigroup Inc. lifted its stake in shares of Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares during the period. AIGH Capital Management LLC raised its holdings in Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after purchasing an additional 2,479,272 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Infinera during the third quarter valued at $13,761,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after buying an additional 2,025,658 shares in the last quarter. Finally, Sand Grove Capital Management LLP purchased a new stake in shares of Infinera in the 3rd quarter worth about $12,517,000. 97.54% of the stock is owned by institutional investors.

Infinera Price Performance

Shares of INFN opened at $6.62 on Thursday. Infinera Co. has a twelve month low of $4.18 and a twelve month high of $6.92. The company has a market capitalization of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.67. The firm has a 50 day moving average of $6.66 and a 200 day moving average of $6.29. 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 posted its 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 business had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. As a group, equities research analysts anticipate that Infinera Co. will post -0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INFN. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price target 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 report on Thursday, November 7th. Finally, B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.