AQR Capital Management LLC Has $544,000 Stock Holdings in Infinera Co. (NASDAQ:INFN)

AQR Capital Management LLC boosted its holdings in shares of Infinera Co. (NASDAQ:INFN) by 22.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,282 shares of the communications equipment provider’s stock after acquiring an additional 16,332 shares during the quarter. AQR Capital Management LLC’s holdings in Infinera were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INFN. Vanguard Group Inc. boosted its stake in shares of Infinera by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock valued at $117,564,000 after purchasing an additional 469,315 shares during the last quarter. Kovack Advisors Inc. raised its holdings in Infinera by 39.4% during the first quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock worth $3,307,000 after buying an additional 154,904 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Infinera by 16.2% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Infinera in the first quarter valued at about $627,000. Finally, Graypoint LLC raised its holdings in shares of Infinera by 8.7% in the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 2,438 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on INFN. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Sunday. Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Craig Hallum reiterated a “hold” rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

INFN stock opened at $6.70 on Tuesday. The firm has a 50 day moving average of $6.35 and a 200-day moving average of $5.81. 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 12 month low of $2.82 and a 12 month high of $6.92. The firm has a market capitalization of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.72.

Infinera (NASDAQ:INFN) last announced its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $342.70 million for 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% compared to the same quarter last year. As a group, sell-side analysts predict that Infinera Co. will post -0.17 earnings per share for the current fiscal 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.