Infinera Co. (NASDAQ:INFN) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of Infinera Co. (NASDAQ:INFN) by 36.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,640 shares of the communications equipment provider’s stock after purchasing an additional 47,930 shares during the period. American Century Companies Inc. owned 0.08% of Infinera worth $1,100,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after purchasing an additional 2,180 shares during the last quarter. Graypoint LLC raised its holdings in Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 2,438 shares during the last quarter. ProShare Advisors LLC raised its holdings in Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 2,821 shares during the last quarter. 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 last quarter. Finally, Blair William & Co. IL raised its holdings in Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after acquiring an additional 3,800 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Stock Down 0.4 %

Shares of Infinera stock opened at $6.75 on Tuesday. The company has a fifty day moving average price of $6.19 and a 200 day moving average price of $5.70. The company has a current ratio of 1.57, a quick ratio of 0.94 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 cap of $1.58 billion, a price-to-earnings ratio of -19.85 and a beta of 1.71.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. B. Riley cut their price target on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. Craig Hallum restated a “hold” rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a report on Monday, July 1st. Finally, Morgan Stanley upped their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.