Principal Financial Group Inc. cut its position in shares of Infinera Corporation (NASDAQ:INFN) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,018 shares of the communications equipment provider’s stock after selling 715 shares during the quarter. Principal Financial Group Inc.’s holdings in Infinera Corporation were worth $192,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INFN. US Bancorp DE increased its stake 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 last quarter. Karp Capital Management Corp acquired a new stake in Infinera Corporation during the first quarter worth about $106,000. Summit Securities Group LLC acquired a new stake in Infinera Corporation during the second quarter worth about $109,000. Teacher Retirement System of Texas increased its stake in Infinera Corporation by 3.6% during the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 409 shares during the last quarter. Finally, First National Bank of Omaha increased its stake 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 last quarter. Institutional investors own 86.67% of the company’s stock.

In other news, President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total value of $180,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Shares of Infinera Corporation (INFN) opened at 8.46 on Wednesday. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50. The firm’s 50-day moving average price is $8.56 and its 200-day moving average price is $9.84. The firm’s market cap is $1.25 billion.

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

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A number of equities research analysts have recently issued reports on INFN shares. MKM Partners reiterated a “buy” rating and issued a $14.00 target price on shares of Infinera Corporation in a research note on Friday, July 21st. Craig Hallum started coverage on Infinera Corporation in a research note on Tuesday, July 18th. They issued a “buy” rating and a $15.00 target price for the company. Deutsche Bank AG reiterated a “buy” rating and issued a $12.50 target price (up previously from $12.00) on shares of Infinera Corporation in a research note on Monday, July 17th. B. Riley upgraded Infinera Corporation to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, June 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Infinera Corporation in a research note on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.82.

Infinera Corporation 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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