New York Life Investment Management LLC cut its stake in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 619,827 shares of the communications equipment provider's stock after selling 46,453 shares during the period. New York Life Investment Management LLC owned 0.26% of Infinera worth $4,072,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Palumbo Wealth Management LLC grew its stake in shares of Infinera by 41.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider's stock valued at $223,000 after buying an additional 9,929 shares during the period. Rhumbline Advisers grew its stake in shares of Infinera by 1.9% during the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider's stock valued at $1,923,000 after buying an additional 5,445 shares during the period. ABC Arbitrage SA purchased a new stake in shares of Infinera during the 4th quarter valued at $2,306,000. SG Americas Securities LLC grew its stake in shares of Infinera by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider's stock valued at $637,000 after buying an additional 14,595 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of 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 buying an additional 8,363 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.
Infinera Price Performance
INFN stock remained flat at $6.64 during trading on Wednesday. Infinera Co. has a fifty-two week low of $4.41 and a fifty-two week high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. The business's fifty day simple moving average is $6.62 and its 200-day simple moving average is $6.59.
Infinera (NASDAQ:INFN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $409.08 million. As a group, sell-side analysts expect that Infinera Co. will post -0.33 EPS for the current year.
Wall Street Analysts Forecast Growth
INFN has been the topic of several recent research reports. B. Riley lowered shares of Infinera from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $6.65 target price on shares of Infinera in a report on Wednesday, November 6th. One 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. Based on data from MarketBeat.com, Infinera presently has an average rating of "Hold" and a consensus target price of $7.09.
Check Out Our Latest Stock Report on Infinera
About Infinera
(
Free Report)
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.
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