Toronto Dominion Bank Makes New Investment in Infinera Co. (NASDAQ:INFN)

Toronto Dominion Bank acquired a new position in shares of Infinera Co. (NASDAQ:INFN) in the 4th quarter, Holdings Channel.com reports. The firm acquired 740,000 shares of the communications equipment provider’s stock, valued at approximately $4,862,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INFN. Magnetar Financial LLC bought a new stake in Infinera during the 4th quarter worth about $56,240,000. PSquared Asset Management AG increased its stake in shares of Infinera by 131.6% in the 4th quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock valued at $36,831,000 after acquiring an additional 3,185,500 shares during the last quarter. One68 Global Capital LLC bought a new stake in shares of Infinera in the 4th quarter valued at about $4,566,000. ABC Arbitrage SA bought a new stake in shares of Infinera in the 4th quarter valued at about $2,306,000. Finally, Optimize Financial Inc bought a new stake in shares of Infinera in the 4th quarter valued at about $1,813,000. 97.54% of the stock is owned by institutional investors.

Infinera Stock Performance

Shares of INFN stock opened at $6.64 on Thursday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The stock has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. The stock has a 50-day moving average of $6.64 and a 200-day moving average of $6.63. Infinera Co. has a one year low of $4.97 and a one year high of $6.92.

Infinera (NASDAQ:INFN) last posted its 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). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. As a group, sell-side analysts expect that Infinera Co. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Infinera in a research note on Thursday, May 15th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.52.

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.