Susquehanna Portfolio Strategies LLC Lowers Stock Holdings in Infinera Co. (NASDAQ:INFN)

Susquehanna Portfolio Strategies LLC reduced its position in Infinera Co. (NASDAQ:INFN) by 28.7% in the second quarter, Holdings Channel.com reports. The firm owned 173,590 shares of the communications equipment provider’s stock after selling 69,724 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Infinera were worth $1,057,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of INFN. Arizona State Retirement System raised its stake in shares of Infinera by 3.9% during the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after acquiring an additional 2,180 shares in the last quarter. Graypoint LLC lifted its stake in Infinera by 8.7% in the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 2,438 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Infinera by 8.5% during the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after buying an additional 2,821 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Infinera by 16.2% during the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 3,725 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Infinera by 8.7% in the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after buying an additional 3,800 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Infinera Stock Down 0.1 %

Shares of NASDAQ INFN opened at $6.78 on Friday. The firm has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $5.68. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $6.92. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $1.59 billion, a PE ratio of -19.94 and a beta of 1.71.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The business had revenue of $342.70 million for the quarter, compared to analysts’ expectations of $331.71 million. Infinera’s revenue was down 8.9% on a year-over-year basis. Equities analysts expect that Infinera Co. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

INFN has been the topic of a number of analyst reports. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 price target (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. B. Riley lowered their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. StockNews.com initiated coverage on shares of Infinera in a report on Friday. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.09.

About Infinera

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.