Today: Capital Fund Management S.A. Reduces Stake in Infinera Corp. (INFN)

Today: Capital Fund Management S.A. Reduces Stake in Infinera Corp. (INFN)

Capital Fund Management S.A. reduced its position in Infinera Corp. (NASDAQ:INFN) by 90.8% during the second quarter, Holdings Channel reports. The institutional investor owned 19,717 shares of the company’s stock after selling 194,309 shares during the period. Capital Fund Management S.A.’s holdings in Infinera Corp. were worth $222,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. purchased a new position in shares of Infinera Corp. during the second quarter worth approximately $22,034,000. TIAA CREF Investment Management LLC raised its position in shares of Infinera Corp. by 366.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,982,616 shares of the company’s stock worth $31,841,000 after buying an additional 1,557,732 shares in the last quarter. Friess Associates LLC purchased a new position in shares of Infinera Corp. during the first quarter worth approximately $10,765,000. Wellington Management Group LLP raised its position in shares of Infinera Corp. by 1,396.8% in the first quarter. Wellington Management Group LLP now owns 504,427 shares of the company’s stock worth $8,101,000 after buying an additional 470,727 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Infinera Corp. by 23.5% in the first quarter. Royce & Associates LP now owns 547,433 shares of the company’s stock worth $8,792,000 after buying an additional 104,000 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Infinera Corp. (NASDAQ:INFN) traded up 0.34% on Friday, reaching $8.84. 1,286,769 shares of the company’s stock traded hands. The firm’s 50-day moving average is $8.84 and its 200 day moving average is $11.31. Infinera Corp. has a 52-week low of $8.20 and a 52-week high of $22.85. The stock has a market capitalization of $1.27 billion, a PE ratio of 29.27 and a beta of 1.11.

Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Infinera Corp. had a net margin of 4.48% and a return on equity of 11.38%. The firm earned $258.82 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Analysts forecast that Infinera Corp. will post $0.42 EPS for the current year.

INFN has been the topic of a number of recent analyst reports. Raymond James Financial Inc. lowered shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Citigroup Inc. lowered shares of Infinera Corp. from a “neutral” rating to a “sell” rating and cut their target price for the company from $10.00 to $8.00 in a research note on Thursday, August 25th. Northland Securities lowered shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Needham & Company LLC restated a “strong-buy” rating and issued a $15.00 target price on shares of Infinera Corp. in a research note on Tuesday, August 23rd. Finally, Nomura restated a “buy” rating and issued a $17.00 target price on shares of Infinera Corp. in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.85.

In related news, CFO Brad Feller purchased 20,000 shares of Infinera Corp. stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average cost of $8.60 per share, with a total value of $172,000.00. Following the acquisition, the chief financial officer now directly owns 109,586 shares in the company, valued at $942,439.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Daane purchased 12,000 shares of Infinera Corp. stock in a transaction on Monday, August 1st. The stock was bought at an average cost of $8.49 per share, with a total value of $101,880.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at $101,880. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

About Infinera Corp.

Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.

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