ASB Consultores LLC Cuts Holdings in Infinera Co. (NASDAQ:INFN)

ASB Consultores LLC reduced its position in Infinera Co. (NASDAQ:INFN) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,900 shares of the communications equipment provider’s stock after selling 2,400 shares during the period. ASB Consultores LLC’s holdings in Infinera were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC bought a new stake in Infinera in the 1st quarter worth approximately $39,000. Partners Capital Investment Group LLP purchased a new stake in Infinera during the fourth quarter valued at $48,000. RPO LLC bought a new position in Infinera during the fourth quarter valued at $82,000. Headlands Technologies LLC purchased a new position in shares of Infinera in the 2nd quarter worth $112,000. Finally, Victory Capital Management Inc. grew its stake in shares of Infinera by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after buying an additional 5,661 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Infinera Trading Up 0.1 %

Shares of NASDAQ INFN opened at $6.70 on Friday. Infinera Co. has a fifty-two week low of $2.82 and a fifty-two week high of $6.76. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -19.71 and a beta of 1.71. The business’s 50 day moving average price is $6.09 and its 200-day moving average price is $5.59.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. StockNews.com assumed coverage on Infinera in a research report on Thursday. They set a “sell” rating on the stock. Rosenblatt Securities cut Infinera from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Morgan Stanley boosted their target price on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price target on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Infinera presently has an average rating of “Hold” and an average target price of $7.09.

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.