Brown Advisory Inc. Increases Position in Infinera Co. (NASDAQ:INFN)
Brown Advisory Inc. increased its stake in Infinera Co. by 8.0% during the fourth quarter, according to its recent filing with the SEC. Other investors have also made changes to their positions in INFN. The stock is currently rated as "Hold" with an average price target of $7.32. Infinera reported earnings of $0.02 per share for the quarter. The company provides optical transport networking equipment and services globally.
Brown Advisory Inc. increased its stake in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,017,956 shares of the communications equipment provider's stock after buying an additional 1,108,567 shares during the quarter. Brown Advisory Inc. owned about 6.62% of Infinera worth $71,335,000 as of its most recent SEC filing.
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A number of other large investors have also recently made changes to their positions in INFN. Ironwood Investment Counsel LLC purchased a new stake in Infinera in the fourth quarter valued at $56,000. Pathstone Family Office LLC acquired a new position in shares of Infinera in the third quarter worth about $66,000. SG Americas Securities LLC acquired a new position in shares of Infinera in the fourth quarter worth about $81,000. Merlin Capital Inc raised its position in shares of Infinera by 68.1% in the third quarter. Merlin Capital Inc now owns 20,915 shares of the communications equipment provider's stock worth $87,000 after acquiring an additional 8,474 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Infinera by 53.8% in the fourth quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider's stock worth $90,000 after acquiring an additional 6,619 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Infinera from a "hold" rating to a "sell" rating in a research report on Friday, February 23rd. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Infinera in a research report on Thursday. B. Riley restated a "buy" rating and set a $9.00 price target on shares of Infinera in a research report on Wednesday. Finally, Stifel Nicolaus restated a "buy" rating and set a $7.00 price target on shares of Infinera in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.32.
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Read Our Latest Analysis on INFN
Infinera Stock Down 0.9 %
Shares of Infinera stock traded down $0.05 during trading hours on Friday, reaching $5.26. 2,815,743 shares of the company were exchanged, compared to its average volume of 2,523,345. The firm has a market cap of $1.22 billion, a PE ratio of -15.47 and a beta of 1.63. The stock's fifty day moving average is $5.17 and its 200 day moving average is $4.83. Infinera Co. has a 1 year low of $2.82 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69.
Infinera (NASDAQ:INFN - Get Free Report) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. Infinera had a negative net margin of 5.11% and a negative return on equity of 28.86%. The firm had revenue of $392.37 million for the quarter.
Infinera Profile
(Free Report)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.
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