Infinera Co. (NASDAQ:INFN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Infinera Co. (NASDAQ:INFN) by 12.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,466 shares of the communications equipment provider’s stock after selling 18,328 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Infinera worth $854,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Olympiad Research LP acquired a new stake in shares of Infinera in the third quarter valued at about $1,388,000. Palumbo Wealth Management LLC lifted its stake in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the period. Creative Planning lifted its stake in shares of Infinera by 87.3% in the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 14,193 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Infinera by 44.3% in the third quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after purchasing an additional 25,600 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Infinera in the third quarter valued at about $556,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Price Performance

Infinera stock opened at $6.61 on Thursday. Infinera Co. has a 1 year low of $3.79 and a 1 year high of $6.92. The firm has a 50 day moving average price of $6.71 and a 200 day moving average price of $6.13. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.79 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The company had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $401.96 million. Sell-side analysts predict that Infinera Co. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INFN shares. Rosenblatt Securities restated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.09.

About Infinera

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.