Vestcor Inc Buys Shares of 5,179 Infinera Co. (NASDAQ:INFN)

Vestcor Inc bought a new stake in Infinera Co. (NASDAQ:INFN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 5,179 shares of the communications equipment provider’s stock, valued at approximately $34,000.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Infinera in the 3rd quarter valued at about $40,000. Wealthfront Advisers LLC purchased a new position in shares of Infinera in the 4th quarter valued at about $76,000. Palumbo Wealth Management LLC boosted its stake in shares of Infinera by 41.5% in 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. Harbor Capital Advisors Inc. boosted its stake in shares of Infinera by 20.0% in 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. Finally, Intech Investment Management LLC purchased a new position in shares of Infinera in the 3rd quarter valued at about $354,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Infinera in a research note on Wednesday, March 12th. They issued a “hold” rating for the company. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Price Performance

INFN stock opened at $6.64 on Wednesday. The business has a 50 day moving average price of $6.63 and a 200 day moving average price of $6.63. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera Co. has a fifty-two week low of $4.49 and a fifty-two week high of $6.92. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last posted its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The business had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Equities research analysts anticipate that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Infinera 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.