40,813 Shares in Infinera Co. (NASDAQ:INFN) Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new position in Infinera Co. (NASDAQ:INFN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,813 shares of the communications equipment provider’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in Infinera by 595.5% during the fourth quarter. Millennium Management LLC now owns 4,287,440 shares of the communications equipment provider’s stock worth $28,897,000 after buying an additional 3,671,019 shares during the period. Shapiro Capital Management LLC lifted its holdings in shares of Infinera by 26.5% during the 1st quarter. Shapiro Capital Management LLC now owns 12,598,788 shares of the communications equipment provider’s stock valued at $109,231,000 after purchasing an additional 2,638,973 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Infinera by 166.7% during the 1st quarter. Two Sigma Advisers LP now owns 2,553,200 shares of the communications equipment provider’s stock valued at $19,813,000 after purchasing an additional 1,595,700 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Infinera by 69.0% during the 1st quarter. Two Sigma Investments LP now owns 3,228,098 shares of the communications equipment provider’s stock valued at $25,050,000 after purchasing an additional 1,318,417 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Infinera by 61.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,932,285 shares of the communications equipment provider’s stock valued at $13,024,000 after purchasing an additional 732,125 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

Shares of INFN opened at $4.72 on Friday. The business’s 50-day moving average is $5.16 and its two-hundred day moving average is $4.58. The company has a market capitalization of $1.09 billion, a P/E ratio of -157.33 and a beta of 1.58. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69. Infinera Co. has a fifty-two week low of $2.82 and a fifty-two week high of $6.62.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. The company 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%. Research analysts predict that Infinera Co. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INFN has been the subject of several analyst reports. StockNews.com lowered Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. B. Riley reiterated a “buy” rating and set a $7.50 price objective on shares of Infinera in a report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price objective on shares of Infinera in a report on Monday, April 1st. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $10.00 target price on shares of Infinera in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.85.

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.