Allspring Global Investments Holdings LLC Decreases Stock Position in Infinera Co. (NASDAQ:INFN)

Allspring Global Investments Holdings LLC reduced its position in Infinera Co. (NASDAQ:INFN) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,880 shares of the communications equipment provider’s stock after selling 4,210 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Infinera were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Infinera by 1.3% in the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after purchasing an additional 314,856 shares in the last quarter. Shapiro Capital Management LLC grew its position in shares of Infinera by 1.5% in the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock valued at $80,556,000 after purchasing an additional 293,787 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Infinera by 1.7% in the third quarter. Brown Advisory Inc. now owns 13,909,389 shares of the communications equipment provider’s stock valued at $58,141,000 after purchasing an additional 237,626 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Infinera during the third quarter valued at $915,000. Finally, FMR LLC boosted its stake in Infinera by 0.6% during the third quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock valued at $142,281,000 after buying an additional 196,237 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Trading Up 2.6 %

Shares of INFN stock opened at $5.10 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 3.63. The business has a 50-day moving average price of $5.15 and a two-hundred day moving average price of $4.62. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.62. The firm has a market cap of $1.18 billion, a P/E ratio of -170.00 and a beta of 1.58.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INFN shares. StockNews.com lowered Infinera from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price objective on shares of Infinera in a research note on Monday, April 1st. Needham & Company LLC started coverage on Infinera in a research note on Monday, April 22nd. They set a “buy” rating and a $10.00 price objective for the company. Finally, B. Riley reissued a “buy” rating and set a $7.50 price objective on shares of Infinera in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.85.

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.