Kornitzer Capital Management Inc. KS increased its position in Infinera Corp. (NASDAQ:INFN) by 29.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 886,765 shares of the company’s stock after buying an additional 200,585 shares during the period. Kornitzer Capital Management Inc. KS owned 0.62% of Infinera Corp. worth $10,003,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Kalmar Investments Inc. DE bought a new stake in Infinera Corp. during the second quarter worth about $10,792,000. Markston International LLC increased its stake in Infinera Corp. by 10,944.4% in the second quarter. Markston International LLC now owns 49,700 shares of the company’s stock worth $561,000 after buying an additional 49,250 shares during the period. Pitcairn Co. increased its stake in Infinera Corp. by 2.8% in the second quarter. Pitcairn Co. now owns 11,695 shares of the company’s stock worth $132,000 after buying an additional 321 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Infinera Corp. during the second quarter worth about $550,000. Finally, Princeton Capital Management Inc. increased its stake in Infinera Corp. by 192.6% in the second quarter. Princeton Capital Management Inc. now owns 83,036 shares of the company’s stock worth $937,000 after buying an additional 54,661 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Institutional Ownership by Quarter for Infinera Corp. (NASDAQ:INFN)

Infinera Corp. (NASDAQ:INFN) traded up 0.34% during mid-day trading on Friday, reaching $8.84. 1,286,769 shares of the company traded hands. Infinera Corp. has a 12-month low of $8.20 and a 12-month high of $22.85. The firm has a market capitalization of $1.27 billion, a P/E ratio of 29.27 and a beta of 1.11. The company’s 50 day moving average price is $8.84 and its 200 day moving average price is $11.31.

Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Infinera Corp. had a return on equity of 11.38% and a net margin of 4.48%. The business earned $258.82 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts predict that Infinera Corp. will post $0.42 EPS for the current year.

A number of equities analysts have weighed in on INFN shares. Raymond James Financial Inc. lowered shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Citigroup Inc. lowered 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 report on Thursday, August 25th. Northland Securities lowered shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Needham & Company LLC reiterated a “strong-buy” rating and set a $15.00 target price on shares of Infinera Corp. in a research report on Tuesday, August 23rd. Finally, Nomura reiterated a “buy” rating and set a $17.00 target price on shares of Infinera Corp. in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Infinera Corp. presently has an average rating of “Hold” and a consensus price target of $13.85.

In other news, CFO Brad Feller bought 20,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $8.60 per share, for a total transaction of $172,000.00. Following the transaction, the chief financial officer now owns 109,586 shares of the company’s stock, valued at $942,439.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marcel Gani bought 50,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average price of $8.60 per share, with a total value of $430,000.00. Following the completion of the transaction, the director now directly owns 87,547 shares in the company, valued at approximately $752,904.20. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

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.

5 Day Chart for NASDAQ:INFN

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