Infinera (NASDAQ:INFN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research note published on Sunday. The firm issued a hold rating on the communications equipment provider’s stock.

Infinera Price Performance

INFN opened at $6.64 on Friday. The business’s fifty day simple moving average is $6.64 and its 200-day simple moving average is $6.64. Infinera has a 12-month low of $4.49 and a 12-month high of $6.92. The company has a market capitalization 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 quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm had revenue of $414.39 million during the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, equities research analysts anticipate that Infinera will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

Institutional investors have recently modified their holdings of the stock. 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 valued at $32,605,000 after buying an additional 47,925 shares in the last quarter. Tidal Investments LLC increased its position in shares of Infinera by 4.9% during the third quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 6,066 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Infinera by 20.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after buying an additional 8,363 shares during the period. SG Americas Securities LLC lifted its holdings in Infinera by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock worth $637,000 after buying an additional 14,595 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in Infinera in the 4th quarter valued at about $2,306,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Company 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.