Eagle Asset Management Inc. Has $25,689,000 Position in Infinera Corp. (INFN)
Eagle Asset Management Inc. increased its position in shares of Infinera Corp. (NASDAQ:INFN) by 45.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,844,945 shares of the company’s stock after buying an additional 891,570 shares during the period. Eagle Asset Management Inc. owned about 1.99% of Infinera Corp. worth $25,689,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its position in Infinera Corp. by 111.8% in the third quarter. BNP Paribas Arbitrage SA now owns 11,769 shares of the company’s stock worth $106,000 after buying an additional 6,212 shares during the last quarter. Summit Securities Group LLC bought a new position in Infinera Corp. during the second quarter worth $115,000. Capstone Investment Advisors LLC bought a new position in Infinera Corp. during the second quarter worth $121,000. Ameritas Investment Partners Inc. boosted its position in Infinera Corp. by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,951 shares of the company’s stock worth $124,000 after buying an additional 577 shares during the last quarter. Finally, KCG Holdings Inc. bought a new position in Infinera Corp. during the second quarter worth $127,000. 67.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Infinera Corp. (NASDAQ:INFN) traded down 0.58% during trading on Monday, reaching $8.52. The company’s stock had a trading volume of 915,577 shares. The stock has a 50 day moving average of $8.45 and a 200-day moving average of $10.05. Infinera Corp. has a 1-year low of $7.23 and a 1-year high of $22.85. The company has a market capitalization of $1.23 billion, a PE ratio of 49.82 and a beta of 1.49.
Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $185.45 million for the quarter, compared to the consensus estimate of $185.50 million. Infinera Corp. had a return on equity of 7.91% and a net margin of 2.63%. Infinera Corp.’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, analysts expect that Infinera Corp. will post $0.33 earnings per share for the current year.
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A number of research analysts have recently weighed in on the company. Stifel Nicolaus began coverage on Infinera Corp. in a research report on Friday, September 30th. They set a “hold” rating and a $9.00 price objective on the stock. Citigroup Inc. cut Infinera Corp. from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $10.00 to $8.00 in a report on Thursday, August 25th. B. Riley cut Infinera Corp. to a “neutral” rating and set a $10.50 price target on the stock. in a report on Tuesday, August 2nd. William Blair reissued a “buy” rating on shares of Infinera Corp. in a report on Tuesday, October 25th. Finally, Zacks Investment Research raised Infinera Corp. from a “sell” rating to a “hold” rating in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating, eleven 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 an average target price 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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