Northern Trust Corp boosted its holdings in Infinera Corp. (NASDAQ:INFN) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,831,820 shares of the communications equipment provider’s stock after buying an additional 12,431 shares during the quarter. Northern Trust Corp’s holdings in Infinera were worth $7,308,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Paloma Partners Management Co purchased a new stake in Infinera in the third quarter valued at approximately $103,000. Verition Fund Management LLC purchased a new stake in Infinera in the third quarter valued at approximately $104,000. Caption Management LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $70,000. Prudential Financial Inc. lifted its stake in Infinera by 19.8% in the fourth quarter. Prudential Financial Inc. now owns 17,985 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 2,975 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $96,000. 85.18% of the stock is owned by hedge funds and other institutional investors.
Infinera stock opened at $5.03 on Tuesday. Infinera Corp. has a 12 month low of $3.54 and a 12 month high of $12.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.90 and a quick ratio of 1.28. The company has a market cap of $835.63 million, a PE ratio of -7.86 and a beta of 0.63.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Friday, December 28th. BidaskClub upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. MKM Partners upgraded Infinera from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $4.25 to $6.00 in a research note on Monday, February 25th. ValuEngine cut Infinera from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Northland Securities set a $7.00 price objective on Infinera and gave the company a “hold” rating in a research note on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.36.
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Infinera Company Profile
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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