SG Americas Securities LLC Makes New $556,000 Investment in Infinera Co. (NASDAQ:INFN)

SG Americas Securities LLC acquired a new stake in Infinera Co. (NASDAQ:INFN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 82,388 shares of the communications equipment provider’s stock, valued at approximately $556,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INFN. SageView Advisory Group LLC acquired a new stake in Infinera during the 1st quarter valued at $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera during the 2nd quarter worth about $104,000. Headlands Technologies LLC bought a new stake in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC acquired a new position in Infinera in the 2nd quarter valued at about $128,000. Finally, Principal Financial Group Inc. raised its holdings in Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 3,725 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Sunday. B. Riley lowered their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Infinera presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

INFN stock opened at $6.70 on Wednesday. The company’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $5.81. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $6.92. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The firm has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.72.

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

Infinera Company 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.