Paradigm Capital Management Inc. NY Decreases Stock Holdings in Infinera Co. (NASDAQ:INFN)

Paradigm Capital Management Inc. NY lowered its position in shares of Infinera Co. (NASDAQ:INFN) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,998,800 shares of the communications equipment provider’s stock after selling 28,900 shares during the period. Infinera comprises about 1.4% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 23rd biggest holding. Paradigm Capital Management Inc. NY owned approximately 2.13% of Infinera worth $30,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of INFN. Arizona State Retirement System grew its stake in shares of Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after purchasing an additional 2,180 shares during the last quarter. Graypoint LLC raised its holdings in shares of Infinera by 8.7% during the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 2,438 shares in the last quarter. ProShare Advisors LLC lifted its stake in Infinera by 8.5% in the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after acquiring an additional 2,821 shares during the period. Principal Financial Group Inc. boosted its holdings in Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 3,725 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Infinera by 8.7% during the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 3,800 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Stock Up 1.3 %

Shares of NASDAQ:INFN opened at $6.79 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The stock has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $5.62. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.83. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -19.97 and a beta of 1.71.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The company’s quarterly revenue was down 8.9% on a year-over-year basis. On average, research analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INFN shares. Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.00 to $6.65 in a research note on Monday, August 5th. StockNews.com assumed coverage on Infinera in a report on Thursday, September 19th. They set a “sell” rating on the stock. Berenberg Bank upgraded Infinera to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price target on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera 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.