Infinera (NASDAQ:INFN) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research note issued on Thursday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

Shares of INFN opened at $6.64 on Thursday. The stock has a fifty day moving average price of $6.64 and a two-hundred day moving average price of $6.63. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera has a 52-week low of $4.97 and a 52-week high of $6.92. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data 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 business had revenue of $414.39 million during the quarter, compared to the consensus estimate of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Analysts predict that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Infinera by 2.0% during the fourth 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 period. Mackenzie Financial Corp grew its stake in Infinera by 56.4% in the fourth quarter. Mackenzie Financial Corp now owns 23,485 shares of the communications equipment provider’s stock valued at $154,000 after acquiring an additional 8,466 shares during the period. Toronto Dominion Bank bought a new stake in shares of Infinera in the fourth quarter valued at about $4,862,000. Squarepoint Ops LLC lifted its holdings in shares of Infinera by 9.2% in the fourth quarter. Squarepoint Ops LLC now owns 1,500,000 shares of the communications equipment provider’s stock valued at $9,855,000 after purchasing an additional 126,527 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Infinera by 77.8% during the fourth quarter. Tidal Investments LLC now owns 229,200 shares of the communications equipment provider’s stock worth $1,506,000 after acquiring an additional 100,317 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.