Public Employees Retirement Association of Colorado Cuts Stake in Infinera Co. (NASDAQ:INFN)

Public Employees Retirement Association of Colorado reduced its stake in shares of Infinera Co. (NASDAQ:INFN) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,912 shares of the communications equipment provider’s stock after selling 2,332 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Infinera were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Kovack Advisors Inc. grew its holdings in Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after buying an additional 154,904 shares in the last quarter. Vanguard Group Inc. grew its holdings in Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after buying an additional 2,299,025 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Infinera during the 1st quarter valued at approximately $627,000. Susquehanna Fundamental Investments LLC purchased a new stake in Infinera during the 1st quarter valued at approximately $759,000. Finally, AMH Equity Ltd purchased a new position in shares of Infinera in the first quarter valued at $1,990,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Morgan Stanley raised their target price on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. Berenberg Bank raised shares of Infinera to a “hold” rating in a report on Monday, August 5th. Craig Hallum reissued a “hold” rating and issued a $6.65 target price (down from $12.00) on shares of Infinera in a report on Monday, July 1st. Finally, B. Riley cut their target price 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Trading Down 0.1 %

INFN stock opened at $6.78 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. Infinera Co. has a twelve month low of $2.82 and a twelve month high of $6.92. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -19.94 and a beta of 1.71. The firm’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $5.68.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current year.

Infinera Profile

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.