Alyeska Investment Group L.P. Buys Shares of 2,270,866 Infinera Corp. (NASDAQ:INFN)

Alyeska Investment Group L.P. bought a new stake in Infinera Corp. (NASDAQ:INFN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,270,866 shares of the communications equipment provider’s stock, valued at approximately $20,143,000. Alyeska Investment Group L.P. owned approximately 1.52% of Infinera as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of INFN. Bank of New York Mellon Corp lifted its position in Infinera by 33.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock worth $83,151,000 after buying an additional 1,949,576 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Infinera during the 3rd quarter worth about $17,028,000. JPMorgan Chase & Co. lifted its position in Infinera by 65.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,664,481 shares of the communications equipment provider’s stock worth $32,176,000 after buying an additional 1,446,641 shares in the last quarter. Fisher Asset Management LLC lifted its position in Infinera by 22.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,089,914 shares of the communications equipment provider’s stock worth $54,018,000 after buying an additional 1,126,763 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Infinera by 55.7% during the 2nd quarter. Jennison Associates LLC now owns 2,931,573 shares of the communications equipment provider’s stock worth $31,280,000 after buying an additional 1,048,424 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.

Shares of Infinera Corp. (INFN) traded up $0.34 during trading hours on Tuesday, reaching $6.67. The company’s stock had a trading volume of 1,651,389 shares, compared to its average volume of 2,652,700. The company has a market cap of $996.01, a PE ratio of -6.23 and a beta of 1.43. Infinera Corp. has a 12-month low of $6.27 and a 12-month high of $12.50.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.12. The company had revenue of $192.60 million during the quarter, compared to analysts’ expectations of $190.37 million. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. Infinera’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. analysts forecast that Infinera Corp. will post -0.85 earnings per share for the current fiscal year.

INFN has been the topic of several research reports. B. Riley reiterated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of Infinera in a research report on Tuesday, November 7th. BidaskClub upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $9.00 price target (down previously from $10.00) on shares of Infinera in a research report on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Infinera in a research report on Tuesday, September 19th. Finally, Citigroup upgraded shares of Infinera from a “sell” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $10.96.

In related news, CEO Thomas J. Fallon purchased 100,000 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $6.33 per share, with a total value of $633,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

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Infinera Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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