Infinera Corp. (INFN) : Central Square Management added new position in Infinera Corp. during the most recent quarter end. The investment management firm now holds 37,152 shares of Infinera Corp. which is valued at $336,597 , the company said in a statement filed on Aug 15, 2016 with the SEC.Infinera Corp. makes up approximately 0.69% of Central Square Management’s portfolio.
Other Hedge Funds, Including , Jericho Capital Asset Management reduced its stake in INFN by selling 432,700 shares or 12.6% in the most recent quarter. The Hedge Fund company now holds 3,001,466 shares of INFN which is valued at $27,193,282. Infinera Corp. makes up approx 1.45% of Jericho Capital Asset Management’s portfolio.Fmr boosted its stake in INFN in the latest quarter, The investment management firm added 7,260 additional shares and now holds a total of 21,218,235 shares of Infinera Corp. which is valued at $192,237,209. Infinera Corp. makes up approx 0.02% of Fmr’s portfolio.Cortina Asset Management reduced its stake in INFN by selling 122,807 shares or 21.05% in the most recent quarter. The Hedge Fund company now holds 460,546 shares of INFN which is valued at $4,172,547. Infinera Corp. makes up approx 0.18% of Cortina Asset Management’s portfolio. Eagle Asset Management Inc added INFN to its portfolio by purchasing 1,953,375 company shares during the most recent quarter which is valued at $23,694,439. Infinera Corp. makes up approx 0.16% of Eagle Asset Management Inc’s portfolio.
Infinera Corp. closed down -0.13 points or -1.46% at $8.79 with 2,095,046 shares getting traded on Wednesday. Post opening the session at $8.92, the shares hit an intraday low of $8.75 and an intraday high of $8.97 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Infinera Corp. reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.18. The company had revenue of $258.82 million for the quarter, compared to analysts expectations of $255.83 million. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Many Wall Street Analysts have commented on Infinera Corp.. Shares were Reiterated by MKM Partners on Sep 6, 2016 to “Neutral” and Lowered the Price Target to $ 8 from a previous price target of $9 .Infinera Corp. was Downgraded by Citigroup to ” Sell” on Aug 25, 2016. Infinera Corp. was Downgraded by Northland Capital to ” Market Perform” on Jul 28, 2016.
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.