Trade Report: Today, Granite Investment Partners LLC invests in Infinera Corp. (INFN) Shares

Today, Granite Investment Partners LLC invests in Infinera Corp. (INFN) Shares

Granite Investment Partners LLC increased its position in Infinera Corp. (NASDAQ:INFN) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 660,223 shares of the company’s stock after buying an additional 664 shares during the period. Granite Investment Partners LLC owned approximately 0.46% of Infinera Corp. worth $5,962,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in INFN. BNP Paribas Arbitrage SA increased its position in Infinera Corp. by 111.8% in the third quarter. BNP Paribas Arbitrage SA now owns 11,769 shares of the company’s stock worth $106,000 after buying an additional 6,212 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Infinera Corp. during the third quarter worth $111,000. Summit Securities Group LLC acquired a new position in Infinera Corp. during the second quarter worth $115,000. Capstone Investment Advisors LLC acquired a new position in Infinera Corp. during the second quarter worth $121,000. Finally, Parametrica Management Ltd acquired a new position in Infinera Corp. during the third quarter worth $121,000. Institutional investors own 69.51% of the company’s stock.

Shares of Infinera Corp. (NASDAQ:INFN) traded down 1.16% during mid-day trading on Friday, hitting $8.52. 263,122 shares of the stock traded hands. Infinera Corp. has a one year low of $7.23 and a one year high of $22.85. The firm has a market capitalization of $1.23 billion, a P/E ratio of 49.82 and a beta of 1.49. The company’s 50 day moving average is $8.51 and its 200 day moving average is $10.07.

Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. Infinera Corp. had a net margin of 2.63% and a return on equity of 7.91%. The firm had revenue of $185.45 million for the quarter, compared to analyst estimates of $185.50 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, equities analysts expect that Infinera Corp. will post $0.33 EPS for the current fiscal year.

A number of research firms have recently weighed in on INFN. Deutsche Bank AG cut their price target on shares of Infinera Corp. from $23.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. MKM Partners dropped their target price on shares of Infinera Corp. from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Jefferies Group downgraded shares of Infinera Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Northland Securities downgraded shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. downgraded shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Infinera Corp. has a consensus rating of “Hold” and an average target price of $13.54.

Infinera Corp. Company Profile

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