Price T Rowe Associates Inc. MD Boosts Stock Holdings in Infinera Co. (NASDAQ:INFN)

Price T Rowe Associates Inc. MD raised its holdings in Infinera Co. (NASDAQ:INFN) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 158,221 shares of the communications equipment provider’s stock after acquiring an additional 13,453 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.07% of Infinera worth $1,040,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in INFN. Vestcor Inc purchased a new stake in shares of Infinera in the 4th quarter worth about $34,000. LPL Financial LLC acquired a new position in Infinera in the fourth quarter valued at $70,000. Wealthfront Advisers LLC acquired a new position in shares of Infinera during the 4th quarter valued at about $76,000. Cibc World Markets Corp purchased a new position in Infinera during the fourth quarter worth approximately $124,000. Finally, Mariner LLC raised its position in shares of Infinera by 23.2% in the 4th quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock worth $154,000 after buying an additional 4,422 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

INFN stock opened at $6.64 on Friday. The company has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. The stock’s 50 day moving average is $6.64 and its two-hundred day moving average is $6.63. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera Co. has a 52-week low of $4.93 and a 52-week high of $6.92.

Infinera (NASDAQ:INFN) last released its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS 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 firm had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. Analysts predict that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Infinera in a research report on Wednesday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Infinera presently 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.