Infinera Co. (NASDAQ:INFN) Holdings Lowered by Intellectus Partners LLC

Intellectus Partners LLC trimmed its stake in shares of Infinera Co. (NASDAQ:INFN) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,218 shares of the communications equipment provider’s stock after selling 15,750 shares during the period. Intellectus Partners LLC’s holdings in Infinera were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. New York State Common Retirement Fund lifted its stake in Infinera by 38.7% in the 4th quarter. New York State Common Retirement Fund now owns 81,159 shares of the communications equipment provider’s stock worth $386,000 after acquiring an additional 22,640 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Infinera by 12.1% in the 4th quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock worth $225,000 after acquiring an additional 5,100 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new stake in Infinera in the 4th quarter worth about $194,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Infinera by 38.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,155 shares of the communications equipment provider’s stock worth $224,000 after acquiring an additional 12,983 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Infinera by 53.8% in the 4th quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock worth $90,000 after acquiring an additional 6,619 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INFN has been the subject of several research analyst reports. StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Needham & Company LLC started coverage on Infinera in a research note on Monday, April 22nd. They set a “buy” rating and a $10.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 price target on shares of Infinera in a research note on Monday, April 1st. Finally, B. Riley reaffirmed a “buy” rating and set a $7.50 price target on shares of Infinera in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.85.

Infinera Stock Up 2.6 %

Shares of NASDAQ INFN traded up $0.13 during mid-day trading on Friday, reaching $5.10. 1,326,380 shares of the company traded hands, compared to its average volume of 3,638,496. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69. The stock has a market cap of $1.18 billion, a PE ratio of -170.00 and a beta of 1.58. The company’s fifty day moving average is $5.15 and its two-hundred day moving average is $4.62. Infinera Co. has a fifty-two week low of $2.82 and a fifty-two week high of $6.62.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. The business had revenue of $392.37 million for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. On average, analysts expect that Infinera Co. will post -0.06 earnings per share for the current year.

Infinera Company 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.