The Manufacturers Life Insurance Company Buys 4,266 Shares of Infinera Co. (NASDAQ:INFN)

The Manufacturers Life Insurance Company raised its position in Infinera Co. (NASDAQ:INFN) by 4.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 102,869 shares of the communications equipment provider’s stock after acquiring an additional 4,266 shares during the period. The Manufacturers Life Insurance Company’s holdings in Infinera were worth $626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of INFN. SageView Advisory Group LLC acquired a new stake in shares of Infinera in the 1st quarter worth about $39,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Infinera in the second quarter valued at about $104,000. Headlands Technologies LLC bought a new position in shares of Infinera during the second quarter valued at about $112,000. Principal Financial Group Inc. lifted its position 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 purchasing an additional 3,725 shares in the last quarter. Finally, Graypoint LLC boosted its holdings in Infinera by 8.7% during 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. Institutional investors own 97.54% of the company’s stock.

Infinera Stock Performance

Shares of INFN opened at $6.70 on Wednesday. Infinera Co. has a 1-year low of $2.82 and a 1-year high of $6.92. The company has a market capitalization of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.72. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The firm’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $5.81.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company 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%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INFN has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a 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. Craig Hallum reiterated a “hold” rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Rosenblatt Securities downgraded shares of Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted 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. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.09.

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.