Dimensional Fund Advisors LP Acquires 675,584 Shares of Infinera Corp. (INFN)
Dimensional Fund Advisors LP lifted its holdings in Infinera Corp. (NASDAQ:INFN) by 17.0% during the 3rd quarter, Holdings Channel reports. The firm owned 4,642,887 shares of the communications equipment provider’s stock after acquiring an additional 675,584 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Infinera were worth $41,182,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of Infinera by 4.9% in the 2nd quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 710 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Infinera by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock worth $591,000 after purchasing an additional 972 shares during the last quarter. Amalgamated Bank grew its stake in shares of Infinera by 5.7% in the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Infinera by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 112,126 shares of the communications equipment provider’s stock worth $1,196,000 after purchasing an additional 2,781 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Infinera by 23.1% in the second quarter. D.A. Davidson & CO. now owns 20,013 shares of the communications equipment provider’s stock worth $213,000 after buying an additional 3,757 shares during the period. 90.57% of the stock is currently owned by institutional investors.
Shares of Infinera Corp. (NASDAQ:INFN) opened at $6.74 on Thursday. The company has a market cap of $1,010.00, a P/E ratio of -6.30 and a beta of 1.43. Infinera Corp. has a fifty-two week low of $6.27 and a fifty-two week high of $12.50.
Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.12. The business had revenue of $192.60 million during the quarter, compared to analysts’ expectations of $190.37 million. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. equities research analysts forecast that Infinera Corp. will post -0.85 EPS for the current fiscal year.
INFN has been the subject of several recent analyst reports. William Blair reiterated a “buy” rating on shares of Infinera in a report on Thursday, November 9th. Nomura decreased their target price on shares of Infinera from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Craig Hallum reiterated a “buy” rating and issued a $10.00 target price (down from $15.00) on shares of Infinera in a report on Thursday, November 9th. B. Riley reiterated a “buy” rating and issued a $12.00 target price (down from $14.00) on shares of Infinera in a report on Tuesday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Infinera in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.96.
In related news, CEO Thomas J. Fallon purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $6.33 per share, for a total transaction of $633,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
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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.
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