Hsbc Holdings PLC Trims Position in Infinera Co. (NASDAQ:INFN)

Hsbc Holdings PLC decreased its position in shares of Infinera Co. (NASDAQ:INFN) by 37.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,653 shares of the communications equipment provider’s stock after selling 17,317 shares during the quarter. Hsbc Holdings PLC’s holdings in Infinera were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovack Advisors Inc. grew its stake in shares of Infinera by 39.4% in the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after buying an additional 154,904 shares during the period. Vanguard Group Inc. increased its stake in Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after acquiring an additional 2,299,025 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Infinera in the first quarter valued at $627,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Infinera in the 1st quarter valued at $759,000. Finally, AMH Equity Ltd purchased a new position in shares of Infinera during the 1st quarter worth $1,990,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on INFN. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Craig Hallum reiterated a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. JPMorgan Chase & Co. boosted their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their price objective on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.09.

Infinera Stock Down 1.3 %

Shares of NASDAQ INFN opened at $6.75 on Friday. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.92. The stock has a market cap of $1.58 billion, a P/E ratio of -19.85 and a beta of 1.72. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The business’s fifty day simple moving average is $6.26 and its 200-day simple moving average is $5.75.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The business had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts predict that Infinera Co. will post -0.17 EPS for the current fiscal year.

Infinera Company 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.