Princeton Capital Management Inc. Increases Position in Infinera Corp. (INFN)
Princeton Capital Management Inc. boosted its position in Infinera Corp. (NASDAQ:INFN) by 192.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,036 shares of the company’s stock after buying an additional 54,661 shares during the period. Princeton Capital Management Inc.’s holdings in Infinera Corp. were worth $937,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Highbridge Capital Management LLC purchased a new position in shares of Infinera Corp. during the fourth quarter worth $2,792,000. Norges Bank purchased a new position in shares of Infinera Corp. during the fourth quarter worth $15,691,000. Fox Run Management L.L.C. purchased a new position in shares of Infinera Corp. during the first quarter worth $442,000. Apex Capital Management increased its position in shares of Infinera Corp. by 5.1% in the first quarter. Apex Capital Management now owns 3,697,458 shares of the company’s stock worth $59,381,000 after buying an additional 178,023 shares during the last quarter. Finally, Virginia Retirement System purchased a new position in shares of Infinera Corp. during the first quarter worth $432,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
Infinera Corp. (NASDAQ:INFN) traded up 0.47% on Monday, reaching $8.53. The company had a trading volume of 1,464,685 shares. Infinera Corp. has a 12-month low of $8.20 and a 12-month high of $22.85. The stock’s 50-day moving average price is $8.86 and its 200-day moving average price is $12.13. The stock has a market capitalization of $1.22 billion, a P/E ratio of 28.25 and a beta of 0.99.
Infinera Corp. (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business earned $258.82 million during the quarter, compared to analyst estimates of $255.83 million. Infinera Corp. had a return on equity of 11.38% and a net margin of 4.48%. Infinera Corp.’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities research analysts anticipate that Infinera Corp. will post $0.42 EPS for the current fiscal year.
A number of equities analysts recently weighed in on INFN shares. MKM Partners restated a “hold” rating on shares of Infinera Corp. in a report on Thursday, May 26th. Jefferies Group restated a “buy” rating and set a $18.00 target price on shares of Infinera Corp. in a report on Wednesday, June 1st. Nomura initiated coverage on shares of Infinera Corp. in a research report on Friday, June 3rd. They set a “buy” rating and a $17.00 price objective for the company. Citigroup Inc. reaffirmed a “hold” rating on shares of Infinera Corp. in a research report on Tuesday, June 21st. Finally, B. Riley initiated coverage on shares of Infinera Corp. in a research report on Thursday, July 14th. They set a “buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.07.
In other Infinera Corp. news, CFO Brad Feller bought 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 109,586 shares in the company, valued at approximately $942,439.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $8.54 per share, with a total value of $854,000.00. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Infinera Corp. Company Profile
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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