Infinera Corp. (INFN) Stake Increased by Macquarie Group Ltd.
Macquarie Group Ltd. increased its stake in Infinera Corp. (NASDAQ:INFN) by 68.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,303 shares of the company’s stock after buying an additional 501,822 shares during the period. Macquarie Group Ltd.’s holdings in Infinera Corp. were worth $13,957,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of INFN. Summit Securities Group LLC bought a new position in shares of Infinera Corp. during the second quarter valued at approximately $115,000. Capstone Investment Advisors LLC bought a new position in shares of Infinera Corp. during the second quarter valued at approximately $121,000. Ameritas Investment Partners Inc. raised its position in shares of Infinera Corp. by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,951 shares of the company’s stock valued at $124,000 after buying an additional 577 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Infinera Corp. during the second quarter valued at approximately $127,000. Finally, Pitcairn Co. raised its position in shares of Infinera Corp. by 2.8% in the second quarter. Pitcairn Co. now owns 11,695 shares of the company’s stock valued at $132,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 67.61% of the company’s stock.
Shares of Infinera Corp. (NASDAQ:INFN) traded up 0.12% during mid-day trading on Wednesday, reaching $8.51. 535,508 shares of the company were exchanged. The company’s 50-day moving average is $8.42 and its 200 day moving average is $9.99. Infinera Corp. has a 12 month low of $7.23 and a 12 month high of $22.85. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 49.77 and a beta of 1.49.
Infinera Corp. (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $185.45 million for the quarter, compared to analysts’ expectations of $185.50 million. Infinera Corp. had a net margin of 2.63% and a return on equity of 7.91%. Infinera Corp.’s revenue was down 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Analysts predict that Infinera Corp. will post $0.33 EPS for the current year.
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Several brokerages recently weighed in on INFN. Stifel Nicolaus began coverage on shares of Infinera Corp. in a research note on Friday, September 30th. They set a “hold” rating and a $9.00 target price on the stock. Citigroup Inc. downgraded shares of Infinera Corp. from a “neutral” rating to a “sell” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Thursday, August 25th. B. Riley downgraded shares of Infinera Corp. to a “neutral” rating and set a $10.50 target price on the stock. in a research note on Tuesday, August 2nd. William Blair reaffirmed a “buy” rating on shares of Infinera Corp. in a research note on Tuesday, October 25th. Finally, Zacks Investment Research raised shares of Infinera Corp. from a “sell” rating to a “hold” rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Infinera Corp. currently has an average rating of “Hold” and a consensus price target of $13.54.
About Infinera Corp.
Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.
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