Wealthfront Advisers LLC Takes Position in Infinera Co. (NASDAQ:INFN)

Wealthfront Advisers LLC acquired a new stake in Infinera Co. (NASDAQ:INFN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,599 shares of the communications equipment provider’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Infinera in the third quarter valued at $40,000. Palumbo Wealth Management LLC boosted its holdings in Infinera by 41.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider’s stock valued at $223,000 after acquiring an additional 9,929 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Infinera by 20.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after acquiring an additional 8,363 shares during the last quarter. Intech Investment Management LLC acquired a new position in Infinera in the third quarter valued at $354,000. Finally, SG Americas Securities LLC boosted its holdings in Infinera by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock valued at $637,000 after acquiring an additional 14,595 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Infinera in a report on Wednesday, March 12th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

Shares of INFN opened at $6.64 on Wednesday. The stock’s 50-day moving average is $6.63 and its two-hundred day moving average is $6.63. The stock has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. Infinera Co. has a 12 month low of $4.49 and a 12 month high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) 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). The company 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%. Equities analysts forecast that Infinera Co. will post -0.33 earnings per share for the current fiscal 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.