Fmr LLC Has $220.04 Million Stake in Infinera Corporation (INFN)

Fmr LLC decreased its position in Infinera Corporation (NASDAQ:INFN) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,509,249 shares of the communications equipment provider’s stock after selling 134,510 shares during the period. Fmr LLC owned 14.69% of Infinera Corporation worth $220,039,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. First Mercantile Trust Co. increased its position in shares of Infinera Corporation by 6.4% in the first quarter. First Mercantile Trust Co. now owns 30,466 shares of the communications equipment provider’s stock worth $311,000 after buying an additional 1,820 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Infinera Corporation by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 232,239 shares of the communications equipment provider’s stock worth $1,972,000 after buying an additional 4,268 shares in the last quarter. American International Group Inc. increased its position in shares of Infinera Corporation by 5.3% in the first quarter. American International Group Inc. now owns 85,117 shares of the communications equipment provider’s stock worth $871,000 after buying an additional 4,294 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Infinera Corporation by 55.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,571 shares of the communications equipment provider’s stock worth $132,000 after buying an additional 5,538 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Infinera Corporation by 65.6% in the first quarter. Stifel Financial Corp now owns 17,432 shares of the communications equipment provider’s stock worth $178,000 after buying an additional 6,905 shares in the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Infinera Corporation (NASDAQ:INFN)

Shares of Infinera Corporation (NASDAQ INFN) traded up 0.52% on Friday, hitting $11.52. 3,274,039 shares of the stock were exchanged. The company’s market cap is $1.69 billion. The company has a 50-day moving average price of $10.07 and a 200 day moving average price of $9.78. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $13.24.

Infinera Corporation (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, May 4th. The communications equipment provider reported ($0.15) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.15). Infinera Corporation had a negative net margin of 9.54% and a negative return on equity of 4.94%. The business had revenue of $175.50 million during the quarter, compared to analyst estimates of $172.62 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 28.3% on a year-over-year basis. Equities analysts forecast that Infinera Corporation will post ($0.44) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This report was first reported by WKRB News and is the sole property of of WKRB News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.wkrb13.com/markets/2230340/fmr-llc-has-220-04-million-stake-in-infinera-corporation-infn.html.

A number of brokerages recently weighed in on INFN. B. Riley reissued a “neutral” rating and set a $9.50 target price on shares of Infinera Corporation in a research note on Friday, May 5th. MKM Partners raised shares of Infinera Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $14.00 in a research note on Wednesday. TheStreet downgraded shares of Infinera Corporation from a “c-” rating to a “d+” rating in a research note on Monday, May 15th. Needham & Company LLC reissued a “strong-buy” rating and set a $13.50 target price on shares of Infinera Corporation in a research note on Monday, May 8th. Finally, BidaskClub raised shares of Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $10.95.

About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Want to see what other hedge funds are holding INFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infinera Corporation (NASDAQ:INFN).

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2230340/fmr-llc-has-220-04-million-stake-in-infinera-corporation-infn.html

Receive News & Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.