Sei Investments Co. Has $6.61 Million Stock Position in Infinera Co. (NASDAQ:INFN)

Sei Investments Co. raised its holdings in shares of Infinera Co. (NASDAQ:INFN) by 45.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,085,822 shares of the communications equipment provider’s stock after buying an additional 341,126 shares during the quarter. Sei Investments Co. owned about 0.46% of Infinera worth $6,613,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INFN. SageView Advisory Group LLC bought a new position in Infinera during the first quarter worth $39,000. Headlands Technologies LLC acquired a new position in shares of Infinera during the second quarter valued at about $112,000. Principal Financial Group Inc. lifted its stake in shares of Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 3,725 shares during the period. Graypoint LLC grew its position in Infinera by 8.7% during the first quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 2,438 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Infinera by 8.5% during the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 2,821 shares during the period. 97.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INFN has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Craig Hallum reissued a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Rosenblatt Securities downgraded shares of Infinera from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Finally, StockNews.com began coverage on shares of Infinera in a research note on Friday. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Down 0.4 %

Shares of NASDAQ:INFN opened at $6.75 on Tuesday. The company’s fifty day moving average is $6.19 and its 200-day moving average is $5.70. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. Infinera Co. has a 52 week low of $2.82 and a 52 week high of $6.92. The company has a market capitalization of $1.58 billion, a PE ratio of -19.85 and a beta of 1.71.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts predict that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Infinera Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.