Fidelity Management & Research Co has recently announced that it has increased stake in Infinera Corporation (NASDAQ:INFN) by 1.33%. After grabbing 33.84 million shares, the institutional investor is now in possession of 0.44 million shares of the Technology Company. The new investment brought the stake of investor firm to 15.00% having worth around $152.29 million. Moreover, The Vanguard Group, Inc. increased its share by 3.36 million to have a control over 23.42 million shares. And Shapiro Capital Management LLC raised its holdings to 3.97 million shares by acquiring 18.98 million shares or 8.41% of the stake.
Infinera Corporation (INFN) concluded trading on 09/14/23 at a closing price of $4.32, with 3.25 million shares of worth about $14.05 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -41.30% during that period and on Thursday the price saw a gain of about 3.85%. Currently the company’s common shares owned by public are about 225.92M shares, out of which, 223.56M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the INFN stock and their offered price forecasts bring an average price target of $6.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $12.00 and could fall to a lowest price of $4.00. The stock’s current price level is 35.52% above of average price target set by the analysts, while a rise to estimated low would result in loss of -8.0% for the stock. However, touching the estimated high of $12.00 would mean a gain of 64.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 102 times over the past 12 months. They bought 914,792 shares in 59 of the transactions. In 43 selling transactions, insiders dumped 314,287 shares.
Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Infinera Corporation Fidelity Growth Company Fund is currently holding 10.56 million shares of worth totaling $47.5 million. The company recently came buying 0.0 shares which brought its stake up to 4.68% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 4.97 million shares, have now control over 2.20% of the stake in the company. It holds 9453.0 shares of worth $22.35 million.
Infinera Corporation (NASDAQ: INFN) started trading at $4.20, above $0.04 from concluding price of the previous day. Stock saw a price change of 3.10% in past 5 days and over the past one month there was a price change of 3.10%. Year-to-date (YTD), INFN shares are showing a performance of -35.91% which decreased to -15.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.62 but also hit the highest price of $7.80 during that period. The average intraday trading volume for Infinera Corporation shares is 2.47 million. The stock is currently trading 3.76% above its 20-day simple moving average (SMA20), while that difference is down -0.82% for SMA50 and it goes to -26.86% lower than SMA200.
Fidelity Management & Research Co acquired 33.84 million shares of Infinera Corporation having value of about $152.29 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.44 million shares in the company valued at close to $1914645.6, or have control over 1.33% stake in the company. Infinera Corporation (NASDAQ: INFN) currently have 225.92M outstanding shares and institutions hold larger chunk of about 105.50% of that. Holding of mutual funds in the company is about 39.25% while other institutional holders and individual stake holders have control over 62.75% and 17.54% of the stake respectively.
The stock has a current market capitalization of $975.63M and its 3Y-monthly beta is at 1.41. It has posted earnings per share of -$0.03 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 4.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for INFN, volatility over the week remained 4.05% while standing at 5.12% over the month.
Analysts are in expectations that Infinera Corporation (INFN) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is $0.11 and it is $0.36 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.02 which is $0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 57.30% while it is estimated to increase by 191.20% in next year. EPS is likely to shrink at an annualized rate of 20.00% for next 5-years, compared to annual growth of 23.20% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the Infinera Corporation (INFN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 9 Wall Street analysts, 4 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.