MetLife Investment Management LLC Grows Stock Holdings in Infinera Co. (NASDAQ:INFN)

MetLife Investment Management LLC increased its holdings in shares of Infinera Co. (NASDAQ:INFN – Get Rating) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,705 shares of the communications equipment provider’s stock after purchasing an additional 7,410 shares during the period. MetLife Investment Management LLC’s holdings in Infinera were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Infinera by 2,649.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,139,829 shares of the communications equipment provider’s stock valued at $15,197,000 after buying an additional 3,025,613 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in Infinera by 26.5% in the first quarter. Shapiro Capital Management LLC now owns 12,598,788 shares of the communications equipment provider’s stock valued at $109,231,000 after acquiring an additional 2,638,973 shares during the period. Brown Advisory Inc. boosted its position in Infinera by 20.1% in the 2nd quarter. Brown Advisory Inc. now owns 10,685,276 shares of the communications equipment provider’s stock worth $57,272,000 after purchasing an additional 1,790,155 shares in the last quarter. Divisar Capital Management LLC grew its stake in shares of Infinera by 193.0% during the 2nd quarter. Divisar Capital Management LLC now owns 1,532,807 shares of the communications equipment provider’s stock worth $8,216,000 after purchasing an additional 1,009,618 shares during the period. Finally, Needham Investment Management LLC increased its holdings in shares of Infinera by 90.9% during the 2nd quarter. Needham Investment Management LLC now owns 2,100,000 shares of the communications equipment provider’s stock valued at $11,256,000 after purchasing an additional 1,000,000 shares in the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.

Infinera Stock Up 3.1 %

INFN stock opened at $7.28 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -19.68 and a beta of 1.37. Infinera Co. has a 52 week low of $4.26 and a 52 week high of $9.20. The firm has a 50-day simple moving average of $7.13 and a 200-day simple moving average of $6.22. The company has a quick ratio of 1.13, a current ratio of 1.61 and a debt-to-equity ratio of 3.72.

Infinera (NASDAQ:INFN – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The company had revenue of $485.90 million during the quarter, compared to analyst estimates of $436.06 million. Infinera had a negative return on equity of 21.63% and a negative net margin of 4.83%. Infinera’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Infinera in a report on Friday, February 24th. Morgan Stanley raised their target price on Infinera from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, February 24th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $15.00 price target on shares of Infinera in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

About Infinera

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Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.