Victory Capital Management Inc. Grows Stake in Infinera Co. (NASDAQ:INFN)

Victory Capital Management Inc. lifted its stake in shares of Infinera Co. (NASDAQ:INFN – Get Rating) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,376,563 shares of the communications equipment provider’s stock after purchasing an additional 642,470 shares during the period. Victory Capital Management Inc.’s holdings in Infinera were worth $22,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INFN. Shapiro Capital Management LLC increased its stake in shares of Infinera by 26.5% during the first quarter. Shapiro Capital Management LLC now owns 12,598,788 shares of the communications equipment provider’s stock worth $109,231,000 after purchasing an additional 2,638,973 shares in the last quarter. Two Sigma Investments LP boosted its position in Infinera by 2,301.5% during the third quarter. Two Sigma Investments LP now owns 769,647 shares of the communications equipment provider’s stock worth $3,725,000 after acquiring an additional 737,598 shares during the last quarter. Vanguard Group Inc. boosted its position in Infinera by 3.2% during the third quarter. Vanguard Group Inc. now owns 18,435,307 shares of the communications equipment provider’s stock worth $89,227,000 after acquiring an additional 578,424 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Infinera by 18.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,705,433 shares of the communications equipment provider’s stock worth $24,975,000 after acquiring an additional 565,604 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Infinera during the third quarter worth about $1,566,000. Hedge funds and other institutional investors own 97.74% of the company’s stock.

Infinera Stock Down 1.2 %

NASDAQ:INFN opened at $5.01 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.04 and a debt-to-equity ratio of 3.55. The company’s 50-day moving average is $6.52 and its two-hundred day moving average is $6.79. Infinera Co. has a 1-year low of $4.26 and a 1-year high of $7.80.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INFN shares. Morgan Stanley boosted their price target on shares of Infinera from $7.00 to $7.50 and gave the stock an “equal weight” rating in a research report on Thursday, March 9th. Needham & Company LLC restated a “strong-buy” rating and set a $15.00 price target on shares of Infinera in a research report on Monday, March 13th. StockNews.com started coverage on shares of Infinera in a research report on Thursday. They set a “hold” rating on the stock. Rosenblatt Securities restated a “buy” rating and set a $9.00 price target on shares of Infinera in a research report on Friday, February 24th. Finally, Northland Securities decreased their target price on shares of Infinera from $7.00 to $6.00 in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Infinera has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Infinera Profile

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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.