Principal Financial Group Inc. Has $162,000 Position in Infinera Co. (NASDAQ:INFN)

Principal Financial Group Inc. lifted its stake in shares of Infinera Co. (NASDAQ:INFNFree Report) by 16.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,790 shares of the communications equipment provider’s stock after acquiring an additional 3,725 shares during the period. Principal Financial Group Inc.’s holdings in Infinera were worth $162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of INFN. Whalen Wealth Management Inc. bought a new stake in Infinera during the 1st quarter valued at $257,000. Kovack Advisors Inc. increased its stake in Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after purchasing an additional 154,904 shares in the last quarter. Vanguard Group Inc. increased its stake in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock valued at $117,564,000 after purchasing an additional 469,315 shares in the last quarter. Wellington Wealth Strategies LLC. bought a new stake in Infinera during the 4th quarter valued at $190,000. Finally, Partners Capital Investment Group LLP bought a new stake in Infinera during the 4th quarter valued at $48,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

INFN has been the subject of a number of recent research reports. Craig Hallum restated a “hold” rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. B. Riley reiterated a “buy” rating and issued a $9.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Morgan Stanley upped their target price on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. Finally, StockNews.com started coverage on shares of Infinera in a research note on Tuesday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.55.

Check Out Our Latest Stock Report on Infinera

Infinera Price Performance

INFN opened at $6.12 on Tuesday. The firm has a market cap of $1.43 billion, a P/E ratio of -18.00 and a beta of 1.64. The firm has a 50-day moving average of $5.43 and a 200 day moving average of $5.19. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. Infinera Co. has a fifty-two week low of $2.82 and a fifty-two week high of $6.62.

Infinera (NASDAQ:INFNGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. On average, research analysts expect that Infinera Co. will post -0.19 EPS for the current year.

About Infinera

(Free Report)

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.

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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