Victory Capital Management Inc. Raises Holdings in Infinera Co. (NASDAQ:INFN)

Victory Capital Management Inc. boosted its holdings in shares of Infinera Co. (NASDAQ:INFN – Get Rating) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,376,563 shares of the communications equipment provider’s stock after buying an additional 642,470 shares during the quarter. Victory Capital Management Inc. owned approximately 1.54% of Infinera worth $22,772,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INFN. Rockefeller Capital Management L.P. increased its holdings in Infinera by 54.1% during the third quarter. Rockefeller Capital Management L.P. now owns 6,304 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 2,212 shares during the period. Eagle Bay Advisors LLC increased its holdings in Infinera by 200.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 7,841 shares of the communications equipment provider’s stock valued at $53,000 after buying an additional 5,229 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in Infinera by 22.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 11,483 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 2,073 shares during the period. Belpointe Asset Management LLC purchased a new position in Infinera during the fourth quarter valued at approximately $57,000. Finally, Veritable L.P. boosted its stake in Infinera by 42.3% in the third quarter. Veritable L.P. now owns 14,953 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 4,446 shares in the last quarter. 97.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $9.00 target price on shares of Infinera in a research note on Friday, February 24th. Needham & Company LLC restated a “strong-buy” rating and issued a $15.00 target price on shares of Infinera in a research note on Monday, March 13th. StockNews.com assumed coverage on shares of Infinera in a research note on Thursday. They issued a “hold” rating for the company. Northland Securities lowered their target price on shares of Infinera from $7.00 to $6.00 in a research note on Thursday, May 4th. Finally, Morgan Stanley raised their target price on shares of Infinera from $7.00 to $7.50 and gave the company an “equal weight” rating in a research note on Thursday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Infinera Stock Down 1.2 %

NASDAQ:INFN opened at $5.01 on Monday. Infinera Co. has a 12 month low of $4.26 and a 12 month high of $7.80. The firm has a fifty day simple moving average of $6.52 and a 200-day simple moving average of $6.79. The company has a current ratio of 1.69, a quick ratio of 1.04 and a debt-to-equity ratio of 3.55.

Infinera (NASDAQ:INFN – Get Rating) last posted its earnings results on Wednesday, May 3rd. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $392.08 million during the quarter, compared to the consensus estimate of $381.39 million. Infinera had a negative net margin of 2.62% and a negative return on equity of 9.66%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. As a group, research analysts expect that Infinera Co. will post -0.02 earnings per share for the current year.

Infinera Profile

(Get Rating)

Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.