Chicago Equity Partners LLC Buys Shares of 123,720 Infinera Corp. (INFN)

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Chicago Equity Partners LLC bought a new position in shares of Infinera Corp. (NASDAQ:INFN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 123,720 shares of the communications equipment provider’s stock, valued at approximately $1,229,000. Chicago Equity Partners LLC owned approximately 0.08% of Infinera as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INFN. Bank of New York Mellon Corp grew its position in shares of Infinera by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock worth $137,084,000 after purchasing an additional 1,265,072 shares in the last quarter. BlackRock Inc. boosted its position in shares of Infinera by 12.5% during the 2nd quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock worth $108,849,000 after acquiring an additional 1,222,230 shares in the last quarter. Millennium Management LLC boosted its position in shares of Infinera by 1,021.4% during the 1st quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock worth $11,945,000 after acquiring an additional 1,001,790 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Infinera by 1,721.2% during the 1st quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock worth $2,029,000 after acquiring an additional 176,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Infinera by 582.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 203,499 shares of the communications equipment provider’s stock worth $2,021,000 after acquiring an additional 173,699 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

INFN has been the topic of several analyst reports. Jefferies Financial Group lowered shares of Infinera from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $12.39 to $6.10 in a research report on Tuesday, May 29th. B. Riley reduced their price target on shares of Infinera from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Infinera from a “hold” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, August 1st. Goldman Sachs Group lowered shares of Infinera from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Wednesday, June 20th. Finally, ValuEngine lowered shares of Infinera from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Infinera has a consensus rating of “Hold” and an average target price of $10.97.

Shares of NASDAQ:INFN opened at $8.45 on Thursday. The company has a market capitalization of $1.37 billion, a P/E ratio of -10.18 and a beta of 0.14. Infinera Corp. has a one year low of $6.10 and a one year high of $12.39.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $208.23 million during the quarter, compared to the consensus estimate of $208.96 million. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. During the same quarter in the prior year, the firm earned ($0.15) EPS. equities analysts expect that Infinera Corp. will post -0.38 earnings per share for the current year.

About Infinera

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

See Also: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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