Great West Life Assurance Co. Can Has $160,000 Position in Infinera Corporation (INFN)

Great West Life Assurance Co. Can maintained its stake in Infinera Corporation (NASDAQ:INFN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,084 shares of the communications equipment provider’s stock at the close of the second quarter. Great West Life Assurance Co. Can’s holdings in Infinera Corporation were worth $160,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Independent Portfolio Consultants Inc. increased its position in Infinera Corporation by 2.9% during the second quarter. Independent Portfolio Consultants Inc. now owns 16,714 shares of the communications equipment provider’s stock worth $178,000 after acquiring an additional 469 shares during the period. US Bancorp DE increased its position in Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after acquiring an additional 1,186 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Infinera Corporation by 2.6% during the first quarter. Metropolitan Life Insurance Co. NY now owns 96,866 shares of the communications equipment provider’s stock worth $991,000 after acquiring an additional 2,480 shares during the period. First National Bank of Omaha increased its position in Infinera Corporation by 31.0% during the second quarter. First National Bank of Omaha now owns 13,255 shares of the communications equipment provider’s stock worth $141,000 after acquiring an additional 3,135 shares during the period. Finally, Teachers Advisors LLC increased its position in Infinera Corporation by 1.9% during the fourth quarter. Teachers Advisors LLC now owns 232,239 shares of the communications equipment provider’s stock worth $1,972,000 after acquiring an additional 4,268 shares during the period. 86.70% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the stock. Citigroup Inc. boosted their target price on shares of Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Friday, July 21st. MKM Partners reaffirmed a “buy” rating and set a $14.00 target price on shares of Infinera Corporation in a research report on Friday, July 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 target price on shares of Infinera Corporation in a research report on Friday, July 21st. Needham & Company LLC boosted their target price on shares of Infinera Corporation from $13.50 to $14.50 and gave the stock a “strong-buy” rating in a research report on Monday, June 19th. Finally, B. Riley reaffirmed a “buy” rating and set a $14.00 target price on shares of Infinera Corporation in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Infinera Corporation currently has an average rating of “Hold” and an average target price of $11.82.

In other news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $9.29, for a total transaction of $185,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President David F. Welch sold 40,000 shares of Infinera Corporation stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $12.09, for a total value of $483,600.00. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock valued at $729,400 in the last three months. Insiders own 2.90% of the company’s stock.

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Shares of Infinera Corporation (NASDAQ:INFN) opened at 8.37 on Friday. The firm has a 50-day moving average of $9.02 and a 200 day moving average of $10.15. Infinera Corporation has a one year low of $7.23 and a one year high of $12.50. The company’s market cap is $1.24 billion.

Infinera Corporation (NASDAQ:INFN) last posted its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The firm had revenue of $176.28 million for the quarter, compared to analyst estimates of $181.16 million. During the same period in the prior year, the business posted $0.21 EPS. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts anticipate that Infinera Corporation will post ($0.56) EPS for the current year.

Infinera Corporation Company 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 Corporation (NASDAQ:INFN)

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