Intech Investment Management LLC Takes $354,000 Position in Infinera Co. (NASDAQ:INFN)

Intech Investment Management LLC purchased a new stake in Infinera Co. (NASDAQ:INFN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 52,504 shares of the communications equipment provider’s stock, valued at approximately $354,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Alpine Associates Management Inc. acquired a new position in Infinera during the 3rd quarter valued at about $13,761,000. Olympiad Research LP acquired a new position in Infinera during the 3rd quarter valued at about $1,388,000. Palumbo Wealth Management LLC boosted its stake in Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the period. Creative Planning boosted its stake in Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 14,193 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Infinera by 44.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after purchasing an additional 25,600 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INFN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price target on shares of Infinera in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Infinera currently has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

INFN stock opened at $6.63 on Wednesday. Infinera Co. has a 52-week low of $4.09 and a 52-week high of $6.92. The company’s 50 day simple moving average is $6.70 and its 200-day simple moving average is $6.16. 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 (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. On average, equities research analysts anticipate that Infinera Co. will post -0.25 EPS for the current fiscal year.

Infinera 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.