Nichols Asset Management Lowers stake in Infinera Corp. (INFN)

Infinera Corp. (INFN) : Nichols Asset Management reduced its stake in Infinera Corp. by 0.79% during the most recent quarter end. The investment management company now holds a total of 474,955 shares of Infinera Corp. which is valued at $6,962,840 after selling 3,774 shares in Infinera Corp. , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Infinera Corp. makes up approximately 1.50% of Nichols Asset Management’s portfolio.

Infinera Corp. opened for trading at $15.05 and hit $15.71 on the upside on Wednesday, eventually ending the session at $15.57, with a gain of 2.98% or 0.45 points. The heightened volatility saw the trading volume jump to 31,00,343 shares. Company has a market cap of $2,201 M.

Other Hedge Funds, Including , Fox Run Management L.l.c. added INFN to its portfolio by purchasing 27,500 company shares during the most recent quarter which is valued at $403,150. Infinera Corp. makes up approx 0.26% of Fox Run Management L.l.c.’s portfolio.Simplex Trading boosted its stake in INFN in the latest quarter, The investment management firm added 11,840 additional shares and now holds a total of 24,820 shares of Infinera Corp. which is valued at $378,753. Infinera Corp. makes up approx 0.06% of Simplex Trading’s portfolio.Central Trust Co boosted its stake in INFN in the latest quarter, The investment management firm added 1,583 additional shares and now holds a total of 3,232 shares of Infinera Corp. which is valued at $49,320.

On the company’s financial health, Infinera Corp. reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.17. The company had revenue of $244.82 million for the quarter, compared to analysts expectations of $246.16 million. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Infinera Corp.. Infinera Corp. was Upgraded by Goldman to ” Neutral” on Apr 15, 2016. Infinera Corp. was Initiated by Drexel Hamilton to “Buy” on Apr 8, 2016. Shares were Reiterated by Needham on Feb 12, 2016 to “Buy” and Lowered the Price Target to $ 24 from a previous price target of $25 .

Infinera Corporation is engaged in optical transport networking systems. The Company provides optical transport networking equipment software and services to Tier 1 and Tier 2 telecommunications service providers Internet content providers (ICPs) cable operators wholesale and enterprise carriers research and education institutions and government entities around the world. The Company’s technologies and platforms enable Service Providers to deliver bandwidth. The Company uses its large scale photonic integrated circuits (PICs) to deliver optical networking solutions for the network environments. Its product portfolio consists of the Infinera DTN-X and the Infinera DTN platforms targeted for long-haul and subsea networks and the Cloud Xpress and ATN platforms targeted for metro networks. It also provides software solutions to increase the efficiency and optimization of the network.

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