Infinera Co. (NASDAQ:INFN) Shares Acquired by Brown Advisory Inc.

Brown Advisory Inc. lifted its position in shares of Infinera Co. (NASDAQ:INFNGet Rating) by 0.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,898,115 shares of the communications equipment provider’s stock after acquiring an additional 50,470 shares during the period. Brown Advisory Inc.’s holdings in Infinera were worth $77,206,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INFN. Point72 Asset Management L.P. acquired a new position in Infinera in the 4th quarter valued at about $15,747,000. Woodline Partners LP purchased a new stake in Infinera in the 4th quarter valued at about $8,733,000. LMR Partners LLP purchased a new stake in Infinera in the 4th quarter valued at about $4,795,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Infinera by 124.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,266 shares of the communications equipment provider’s stock valued at $5,795,000 after buying an additional 335,528 shares during the period. Finally, Cinctive Capital Management LP purchased a new stake in Infinera in the 4th quarter valued at about $2,869,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INFN. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Infinera in a report on Monday, May 16th. B. Riley decreased their target price on Infinera from $12.50 to $11.00 in a report on Wednesday, May 4th. JPMorgan Chase & Co. decreased their target price on Infinera from $7.50 to $6.50 and set an “underweight” rating for the company in a report on Thursday, July 14th. Citigroup decreased their target price on Infinera from $9.00 to $6.50 in a report on Thursday, July 14th. Finally, MKM Partners reiterated a “buy” rating and set a $9.00 target price on shares of Infinera in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.86.

Infinera Stock Performance

NASDAQ INFN opened at $5.04 on Friday. The business has a 50 day moving average price of $5.60 and a two-hundred day moving average price of $7.05. Infinera Co. has a fifty-two week low of $4.67 and a fifty-two week high of $10.14. The company has a debt-to-equity ratio of 5.49, a quick ratio of 1.11 and a current ratio of 1.67.

Infinera (NASDAQ:INFNGet Rating) last announced its earnings results on Thursday, July 28th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Infinera had a negative return on equity of 33.09% and a negative net margin of 12.69%. The company had revenue of $357.99 million for the quarter, compared to analyst estimates of $350.62 million. During the same period in the prior year, the company posted ($0.09) EPS. Infinera’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that Infinera Co. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Infinera

In other Infinera news, Director George Andrew Riedel bought 10,000 shares of the business’s stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $5.28 per share, with a total value of $52,800.00. Following the transaction, the director now directly owns 82,451 shares in the company, valued at approximately $435,341.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David W. Heard purchased 6,500 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average cost of $5.72 per share, with a total value of $37,180.00. Following the transaction, the chief executive officer now owns 608,740 shares in the company, valued at approximately $3,481,992.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George Andrew Riedel acquired 10,000 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average price of $5.28 per share, with a total value of $52,800.00. Following the completion of the purchase, the director now owns 82,451 shares in the company, valued at $435,341.28. The disclosure for this purchase can be found here. 2.82% of the stock is currently owned by corporate insiders.

Infinera Profile

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Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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