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

Cornerstone Investment Partners LLC acquired a new position in shares of Infinera Co. (NASDAQ:INFN) in the 4th quarter, HoldingsChannel reports. The fund acquired 40,813 shares of the communications equipment provider’s stock, valued at approximately $194,000.

Several other large investors have also modified their holdings of INFN. Millennium Management LLC boosted its holdings in shares of Infinera by 595.5% during the 4th 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 boosted 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 worth $109,231,000 after buying an additional 2,638,973 shares during the period. Two Sigma Advisers LP boosted 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 worth $19,813,000 after buying an additional 1,595,700 shares during the period. Two Sigma Investments LP boosted 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 worth $25,050,000 after buying an additional 1,318,417 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted 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 worth $13,024,000 after buying an additional 732,125 shares during the period. 97.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INFN shares. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $10.00 price objective on shares of Infinera in a report on Thursday, March 7th. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price target on shares of Infinera in a report on Monday, April 1st. StockNews.com downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, B. Riley reissued a “buy” rating and issued a $7.50 price target on shares of Infinera in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.85.

Infinera Trading Up 1.3 %

Shares of INFN stock opened at $4.72 on Friday. Infinera Co. has a 52-week low of $2.82 and a 52-week high of $6.62. The stock has a market cap of $1.09 billion, a price-to-earnings 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. The firm has a fifty day moving average of $5.16 and a 200-day moving average of $4.58.

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

About Infinera

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.