Infinera (NASDAQ:INFN) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Price Performance

INFN opened at $6.64 on Thursday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera has a 1 year low of $4.49 and a 1 year high of $6.92. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The stock has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.63.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share 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 company had revenue of $414.39 million during the quarter, compared to analyst estimates of $409.08 million. Analysts forecast that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Magnetar Financial LLC acquired a new position in shares of Infinera during the 4th quarter worth about $56,240,000. PSquared Asset Management AG lifted its position 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 lifted its position in shares of 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 worth $32,605,000 after purchasing an additional 47,925 shares during the last quarter. Citigroup Inc. lifted its position 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. Finally, Wellington Management Group LLP lifted its position in shares of 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 worth $17,675,000 after purchasing an additional 52,381 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.