Geode Capital Management LLC Sells 2,355 Shares of Infinera Co. (NASDAQ:INFN)

Geode Capital Management LLC cut its holdings in Infinera Co. (NASDAQ:INFN) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,827,131 shares of the communications equipment provider’s stock after selling 2,355 shares during the quarter. Geode Capital Management LLC’s holdings in Infinera were worth $31,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in INFN. Victory Capital Management Inc. increased its stake in shares of Infinera by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock valued at $856,000 after buying an additional 3,776 shares during the period. Vestcor Inc bought a new position in Infinera in the fourth quarter valued at about $34,000. Rhumbline Advisers increased its position in Infinera by 1.9% in the fourth quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock worth $1,923,000 after purchasing an additional 5,445 shares during the period. Tidal Investments LLC raised its holdings in Infinera by 4.9% during the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock worth $870,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Infinera by 20.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after purchasing an additional 8,363 shares during the period. 97.54% of the stock is owned by institutional investors.

Infinera Price Performance

Shares of INFN opened at $6.64 on Thursday. The stock has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. Infinera Co. has a 1 year low of $4.60 and a 1 year high of $6.92. The stock’s 50-day moving average price is $6.64 and its two-hundred day moving average price is $6.64. 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 data on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. On average, equities analysts predict that Infinera Co. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Infinera in a research report on Sunday. They set a “hold” rating for the company. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.09.

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.