Infinera Corp. (INFN) : Myriad Asset Management Ltd. scooped up 305,300 additional shares in Infinera Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 637,500 shares of Infinera Corp. which is valued at $7.6 Million.Infinera Corp. makes up approximately 2.38% of Myriad Asset Management Ltd.’s portfolio.
Other Hedge Funds, Including , Hbk Investments L P sold out all of its stake in INFN during the most recent quarter. The investment firm sold 78,600 shares of INFN which is valued $933,768. Zweig-dimenna Associates added INFN to its portfolio by purchasing 500,000 company shares during the most recent quarter which is valued at $5.9 Million. Infinera Corp. makes up approx 0.52% of Zweig-dimenna Associates’s portfolio. Bluecrest Capital Management Ltd sold out all of its stake in INFN during the most recent quarter. The investment firm sold 29,648 shares of INFN which is valued $355,776.Thompson Davis boosted its stake in INFN in the latest quarter, The investment management firm added 30,225 additional shares and now holds a total of 37,725 shares of Infinera Corp. which is valued at $452,700. Infinera Corp. makes up approx 0.68% of Thompson Davis’s portfolio.
Infinera Corp. opened for trading at $12.98 and hit $13.26 on the upside on Wednesday, eventually ending the session at $13.1, with a gain of 1.00% or 0.13 points. The heightened volatility saw the trading volume jump to 18,08,600 shares. Company has a market cap of $1,853 M.
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 Downgraded by Citigroup to ” Neutral” on Apr 28, 2016. Shares were Downgraded by MKM Partners on Apr 28, 2016 to ” Neutral” and Lowered the Price Target to $ 15 from a previous price target of $21 .Shares were Reiterated by Stifel on Apr 28, 2016 to “Buy” and Lowered the Price Target to $ 19 from a previous price target of $23 .
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.