Hood River Capital Management LLC Grows Stock Position in Infinera Co. (NASDAQ:INFN)

Hood River Capital Management LLC boosted its holdings in Infinera Co. (NASDAQ:INFN) by 14.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,753,842 shares of the communications equipment provider’s stock after acquiring an additional 591,611 shares during the period. Hood River Capital Management LLC owned 2.03% of Infinera worth $28,951,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INFN. Vanguard Group Inc. lifted its stake in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after buying an additional 2,025,658 shares during the period. AIGH Capital Management LLC lifted its position in Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after buying an additional 2,479,272 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Infinera by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock worth $16,802,000 after buying an additional 748,155 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Infinera by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock worth $7,489,000 after buying an additional 35,676 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. StockNews.com assumed coverage on Infinera in a report on Thursday. They issued a “sell” rating on the stock. JPMorgan Chase & Co. raised their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Finally, Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.70 on Monday. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -19.71 and a beta of 1.71. The stock’s 50-day moving average is $6.10 and its two-hundred day moving average is $5.61. Infinera Co. has a 1-year low of $2.82 and a 1-year high of $6.76.

Infinera (NASDAQ:INFN) last released its 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 for the quarter, compared to analyst estimates of $331.71 million. The firm’s revenue was down 8.9% compared to the same quarter last year. Analysts forecast that Infinera Co. will post -0.17 EPS for the current fiscal year.

Infinera Company 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.