Wells Fargo & Company MN Grows Stock Holdings in Infinera Co. (NASDAQ:INFN)

Wells Fargo & Company MN lifted its position in Infinera Co. (NASDAQ:INFN) by 46.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,091 shares of the communications equipment provider’s stock after purchasing an additional 50,148 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Infinera worth $1,045,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Infinera by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock worth $856,000 after buying an additional 3,776 shares during the last quarter. Vestcor Inc bought a new stake in shares of Infinera in the 4th quarter worth approximately $34,000. Rhumbline Advisers boosted its stake in shares of Infinera by 1.9% in the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock valued at $1,923,000 after purchasing an additional 5,445 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Infinera by 4.9% in the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after purchasing an additional 6,066 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Infinera by 20.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock worth $329,000 after purchasing an additional 8,363 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Infinera Price Performance

Shares of Infinera stock opened at $6.64 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. Infinera Co. has a 12-month low of $4.75 and a 12-month high of $6.92. The company has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. The company’s fifty day simple moving average is $6.64 and its two-hundred day simple moving average is $6.64.

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

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Infinera in a research report on Tuesday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.09.

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.