MUFG Securities EMEA plc lessened its stake in Infinera Corp. (NASDAQ:INFN) by 41.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 423,653 shares of the communications equipment provider’s stock after selling 301,494 shares during the period. MUFG Securities EMEA plc owned about 0.24% of Infinera worth $1,233,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INFN. Atria Investments LLC acquired a new position in shares of Infinera in the 2nd quarter valued at about $1,328,000. FMR LLC lifted its stake in shares of Infinera by 0.6% in the 1st quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock valued at $114,380,000 after purchasing an additional 150,000 shares during the period. Paradigm Capital Management Inc. NY lifted its stake in shares of Infinera by 45.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,198,000 shares of the communications equipment provider’s stock valued at $3,486,000 after purchasing an additional 373,700 shares during the period. King Luther Capital Management Corp acquired a new position in shares of Infinera in the 2nd quarter valued at about $407,000. Finally, Bank of Montreal Can lifted its stake in shares of Infinera by 187.0% in the 1st quarter. Bank of Montreal Can now owns 725,709 shares of the communications equipment provider’s stock valued at $3,150,000 after purchasing an additional 472,849 shares during the period. Hedge funds and other institutional investors own 79.14% of the company’s stock.
A number of research analysts have recently issued reports on the company. ValuEngine downgraded Infinera from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Goldman Sachs Group raised Infinera from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Raymond James raised Infinera from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Finally, BidaskClub raised Infinera from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Infinera currently has an average rating of “Hold” and a consensus target price of $6.14.
INFN stock traded down $0.09 during trading on Friday, reaching $5.40. 85,386 shares of the stock were exchanged, compared to its average volume of 2,185,070. The firm’s 50 day moving average is $4.60 and its 200 day moving average is $4.06. Infinera Corp. has a twelve month low of $2.80 and a twelve month high of $7.50. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.67. The firm has a market cap of $984.91 million, a P/E ratio of -8.44 and a beta of 0.60.
Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.11. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The business had revenue of $296.25 million for the quarter, compared to the consensus estimate of $300.40 million. During the same period in the prior year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. As a group, analysts predict that Infinera Corp. will post -0.91 earnings per share for the current fiscal year.
Infinera Corporation provides optical transport networking 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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