Kennedy Capital Management LLC Has $10.75 Million Stock Position in Infinera Co. (NASDAQ:INFN)

Kennedy Capital Management LLC lowered its stake in Infinera Co. (NASDAQ:INFN) by 3.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,782,065 shares of the communications equipment provider’s stock after selling 63,878 shares during the period. Kennedy Capital Management LLC’s holdings in Infinera were worth $10,746,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC bought a new position in shares of Infinera during the first quarter valued at $39,000. Partners Capital Investment Group LLP bought a new position in shares of Infinera during the fourth quarter valued at $48,000. Worth Venture Partners LLC bought a new position in shares of Infinera during the fourth quarter valued at $53,000. Ironwood Investment Counsel LLC bought a new position in shares of Infinera during the fourth quarter valued at $56,000. Finally, SG Americas Securities LLC bought a new position in shares of Infinera during the fourth quarter valued at $81,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

INFN has been the subject of several analyst reports. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Morgan Stanley lifted their target price on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $7.00 target price on shares of Infinera in a research note on Wednesday, May 15th. Finally, StockNews.com assumed coverage on shares of Infinera in a research note on Thursday, July 25th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus target price of $7.55.

Infinera Stock Performance

Shares of NASDAQ INFN traded down $0.04 during mid-day trading on Tuesday, reaching $5.94. 4,573,507 shares of the company’s stock traded hands, compared to its average volume of 3,976,030. The business has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $5.33. Infinera Co. has a 1-year low of $2.82 and a 1-year high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The business had revenue of $306.92 million for the quarter, compared to analyst estimates of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. As a group, sell-side analysts anticipate that Infinera Co. will post -0.19 EPS for the current fiscal year.

About Infinera

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.