Voya Investment Management LLC Buys Shares of 52,833 Infinera Co. (NASDAQ:INFN)

Voya Investment Management LLC purchased a new stake in shares of Infinera Co. (NASDAQ:INFN) in the 4th quarter, HoldingsChannel reports. The fund purchased 52,833 shares of the communications equipment provider’s stock, valued at approximately $347,000.

A number of other institutional investors have also modified their holdings of the company. Vestcor Inc bought a new position in shares of Infinera during the 4th quarter worth approximately $34,000. LPL Financial LLC purchased a new position in Infinera in the fourth quarter worth $70,000. Wealthfront Advisers LLC acquired a new position in shares of Infinera during the fourth quarter worth $76,000. Cibc World Markets Corp purchased a new stake in shares of Infinera during the 4th quarter valued at $124,000. Finally, Mariner LLC boosted 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 purchasing an additional 4,422 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Infinera in a research report on Wednesday, May 7th. 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 given a buy rating to the company’s stock. According to data from MarketBeat, Infinera presently has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Price Performance

Shares of INFN opened at $6.64 on Monday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The company’s fifty day moving average price is $6.64 and its 200-day moving average price is $6.63. Infinera Co. has a 1-year low of $4.93 and a 1-year high of $6.92. The firm has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last issued its quarterly 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). The firm had revenue of $414.39 million for the quarter, compared to analyst estimates 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 predict that Infinera Co. will post -0.33 EPS for the current 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.