Vanguard Group Inc. Buys 314,856 Shares of Infinera Co. (NASDAQ:INFN)

Vanguard Group Inc. grew its stake in Infinera Co. (NASDAQ:INFN - Free Report) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,281,031 shares of the communications equipment provider's stock after buying an additional 314,856 shares during the quarter. Vanguard Group Inc. owned 10.70% of Infinera worth $101,495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in INFN. Jupiter Asset Management Ltd. raised its position in shares of Infinera by 721.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 222,928 shares of the communications equipment provider's stock worth $932,000 after acquiring an additional 195,786 shares in the last quarter. FMR LLC raised its position in shares of Infinera by 0.6% during the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider's stock worth $142,281,000 after acquiring an additional 196,237 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Infinera by 36.5% during the 3rd quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider's stock worth $1,913,000 after acquiring an additional 122,500 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Infinera during the 3rd quarter worth about $915,000. Finally, Shapiro Capital Management LLC raised its position in shares of Infinera by 1.5% during the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider's stock worth $80,556,000 after acquiring an additional 293,787 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INFN shares. StockNews.com lowered Infinera from a "hold" rating to a "sell" rating in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a "strong-buy" rating and set a $10.00 price target on shares of Infinera in a research report on Thursday, March 7th. B. Riley reaffirmed a "buy" rating and set a $7.50 price target on shares of Infinera in a research report on Thursday, March 7th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $7.00 price target on shares of Infinera in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Infinera has an average rating of "Moderate Buy" and an average price target of $6.85.

Infinera Price Performance

INFN traded down $0.15 during trading on Friday, reaching $5.80. 2,406,289 shares of the stock were exchanged, compared to its average volume of 3,368,782. Infinera Co. has a 1 year low of $2.82 and a 1 year high of $7.39. The business's 50 day moving average price is $5.20 and its two-hundred day moving average price is $4.51. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 3.63.

Infinera (NASDAQ:INFN - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. The company had revenue of $392.37 million during the quarter. On average, sell-side analysts anticipate that Infinera Co. will post -0.06 EPS 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.