King Luther Capital Management Corp Reduces Stake in Infinera Corporation (INFN)

King Luther Capital Management Corp lowered its stake in shares of Infinera Corporation (NASDAQ:INFN) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 366,325 shares of the communications equipment provider’s stock after selling 18,285 shares during the period. King Luther Capital Management Corp owned approximately 0.25% of Infinera worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Infinera by 3.2% during the second quarter. Vanguard Group Inc. now owns 11,785,059 shares of the communications equipment provider’s stock valued at $125,746,000 after purchasing an additional 369,519 shares during the period. BlackRock Inc. raised its holdings in shares of Infinera by 2.8% in the 2nd quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after acquiring an additional 268,912 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Infinera by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,954,566 shares of the communications equipment provider’s stock worth $79,428,000 after acquiring an additional 1,161,456 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Infinera by 22.7% in 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 acquiring an additional 1,126,763 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Infinera by 19.1% in the 2nd quarter. Alliancebernstein L.P. now owns 5,961,108 shares of the communications equipment provider’s stock worth $63,605,000 after acquiring an additional 957,416 shares during the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.

In other news, President David F. Welch sold 20,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Fallon bought 100,000 shares of Infinera stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $6.33 per share, with a total value of $633,000.00. The disclosure for this purchase can be found here. 2.90% of the stock is owned by corporate insiders.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. MKM Partners lowered shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, November 9th. Stifel Nicolaus restated a “hold” rating and issued a $9.00 target price (down previously from $10.00) on shares of Infinera in a report on Thursday, November 9th. Needham & Company LLC restated a “strong-buy” rating and issued a $13.00 target price on shares of Infinera in a report on Thursday, August 31st. Finally, Citigroup upgraded shares of Infinera from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $10.96.

Shares of Infinera Corporation (INFN) opened at $6.68 on Friday. Infinera Corporation has a one year low of $6.27 and a one year high of $12.50.

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

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Infinera 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.

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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