Symmetry Peak Management LLC purchased a new stake in Infinera Corporation (NASDAQ:INFN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the communications equipment provider’s stock, valued at approximately $256,000.
Several other institutional investors have also modified their holdings of the company. Bbva Compass Bancshares Inc. acquired a new position in shares of Infinera Corporation during the first quarter valued at $103,000. First National Bank of Omaha acquired a new position in shares of Infinera Corporation during the first quarter valued at $104,000. Karp Capital Management Corp acquired a new position in shares of Infinera Corporation during the first quarter valued at $106,000. Envestnet Asset Management Inc. boosted its position in shares of Infinera Corporation by 55.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,571 shares of the communications equipment provider’s stock valued at $132,000 after buying an additional 5,538 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Infinera Corporation during the first quarter valued at $154,000. 81.23% of the stock is owned by institutional investors.
Infinera Corporation (INFN) traded up 0.61% during midday trading on Monday, hitting $11.59. The stock had a trading volume of 1,377,043 shares. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $13.24. The stock’s market cap is $1.70 billion. The company has a 50-day moving average price of $10.07 and a 200-day moving average price of $9.78.
Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $172.62 million. Infinera Corporation had a negative return on equity of 4.94% and a negative net margin of 9.54%. The firm’s quarterly revenue was down 28.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts expect that Infinera Corporation will post ($0.44) EPS for the current year.
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Several equities analysts have recently weighed in on INFN shares. MKM Partners raised shares of Infinera Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $14.00 in a research note on Wednesday, June 14th. Deutsche Bank AG raised their price target on shares of Infinera Corporation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, March 20th. Goldman Sachs Group, Inc. (The) raised shares of Infinera Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $13.50 in a research note on Thursday, March 16th. TheStreet cut shares of Infinera Corporation from a “c-” rating to a “d+” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a research note on Friday, February 24th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given 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 $11.05.
Infinera Corporation Company Profile
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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