LPL Financial LLC Invests $70,000 in Infinera Co. (NASDAQ:INFN)

LPL Financial LLC purchased a new stake in shares of Infinera Co. (NASDAQ:INFN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,727 shares of the communications equipment provider’s stock, valued at approximately $70,000.

Several other hedge funds have also recently bought and sold shares of the business. Vestcor Inc purchased a new stake in shares of Infinera in the fourth quarter worth approximately $34,000. Wealthfront Advisers LLC acquired a new position in Infinera in the 4th quarter valued at approximately $76,000. Cibc World Markets Corp purchased a new stake in Infinera in the 4th quarter worth approximately $124,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Infinera during the 4th quarter valued at $174,000. Finally, Palumbo Wealth Management LLC grew its holdings in shares of Infinera by 41.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider’s stock valued at $223,000 after acquiring an additional 9,929 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Infinera in a 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

INFN stock opened at $6.64 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The firm has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. Infinera Co. has a 1 year low of $4.93 and a 1 year high of $6.92. The company has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $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 the consensus estimate of $0.13 by ($0.15). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. Sell-side analysts anticipate that Infinera Co. will post -0.33 EPS 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.