Inspire Investing LLC Acquires 80,277 Shares of Infinera Co. (NASDAQ:INFN)

Inspire Investing LLC boosted its holdings in shares of Infinera Co. (NASDAQ:INFN) by 132.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,708 shares of the communications equipment provider’s stock after acquiring an additional 80,277 shares during the quarter. Inspire Investing LLC owned 0.06% of Infinera worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Infinera in the 2nd quarter valued at about $774,000. Dimensional Fund Advisors LP boosted its holdings in Infinera by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after acquiring an additional 748,155 shares during the last quarter. Inspire Advisors LLC acquired a new stake in Infinera during the 2nd quarter valued at approximately $2,439,000. American Century Companies Inc. raised its holdings in Infinera by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 180,640 shares of the communications equipment provider’s stock worth $1,100,000 after purchasing an additional 47,930 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Infinera during the 2nd quarter worth approximately $112,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Craig Hallum reiterated a “hold” rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. B. Riley decreased their price target on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Rosenblatt Securities cut Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Finally, Morgan Stanley lifted their target price on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Infinera presently has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Up 0.1 %

Shares of NASDAQ:INFN opened at $6.70 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. Infinera Co. has a 52-week low of $2.82 and a 52-week high of $6.76. The business’s 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $5.59. The firm has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.71.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $342.70 million for the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, research 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.