Fidelity Management & Research Co has recently announced that it has increased stake in Infinera Corp. (NASDAQ:INFN) by 0.58%. After grabbing 34.04 million shares, the institutional investor is now in possession of 0.2 million shares of the Technology Company. The new investment brought the stake of investor firm to 15.00% having worth around $132.41 million. Moreover, The Vanguard Group, Inc. increased its share by 0.32 million to have a control over 23.74 million shares. And Shapiro Capital Management LLC raised its holdings to 0.29 million shares by acquiring 19.27 million shares or 8.49% of the stake.
Infinera Corp. (INFN) concluded trading on 12/21/23 at a closing price of $4.72, with 1.77 million shares of worth about $8.35 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.42% during that period and on Thursday the price saw a gain of about 3.06%. Currently the company’s common shares owned by public are about 226.92M shares, out of which, 223.77M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the INFN stock and their offered price forecasts bring an average price target of $6.82. 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 30.79% above of average price target set by the analysts, while a rise to estimated low would result in loss of -18.0% for the stock. However, touching the estimated high of $12.00 would mean a gain of 60.67% 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 1,058,320 shares in 59 of the transactions. In 43 selling transactions, insiders dumped 388,044 shares.
Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Brown Advisory Small Cap Growth F are the top 3 mutual funds which are holding stakes in Infinera Corp. Fidelity Growth Company Fund is currently holding 10.54 million shares of worth totaling $41.01 million. The company recently came buying 0.0 shares which brought its stake up to 4.64% of the company’s outstanding shares. Brown Advisory Small Cap Growth F, after buying 4.98 million shares, have now control over 2.19% of the stake in the company. It holds 0.16 million shares of worth $19.37 million.
Infinera Corp. (NASDAQ: INFN) started trading at $4.60, above $0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 4.7400, or with a gain of 3.06%. Stock saw a price change of -2.28% in past 5 days and over the past one month there was a price change of 14.01%. Year-to-date (YTD), INFN shares are showing a performance of -29.97% which decreased to -29.34% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.82 but also hit the highest price of $7.80 during that period. The average intraday trading volume for Infinera Corp. shares is 2.51 million. The stock is currently trading 8.17% above its 20-day simple moving average (SMA20), while that difference is up 22.87% for SMA50 and it goes to -2.20% lower than SMA200.
Fidelity Management & Research Co acquired 34.04 million shares of Infinera Corp. having value of about $132.41 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.2 million shares in the company valued at close to $926238.64, or have control over 0.58% stake in the company. Infinera Corp. (NASDAQ: INFN) currently have 226.92M outstanding shares and institutions hold larger chunk of about 99.45% of that. Holding of mutual funds in the company is about 39.86% while other institutional holders and individual stake holders have control over 61.37% and 17.57% of the stake respectively.
The stock has a current market capitalization of $1.07B and its 3Y-monthly beta is at 1.56. It has posted earnings per share of -$0.05 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 4.45. 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 4.78% while standing at 5.38% over the month.
Analysts are in expectations that Infinera Corp. (INFN) stock would likely to be making an EPS of $0.05 in the current quarter, while forecast for next quarter EPS is $0.09 and it is $0.33 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.04 which is $0.06 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 33.33% while it is estimated to increase by 110.00% in next year. EPS is likely to shrink at an annualized rate of 20.00% for next 5-years, compared to annual growth of 23.26% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the Infinera Corp. (INFN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 10 Wall Street analysts, 5 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on September 28, 2023 offering a Buy rating for the stock and assigned a target price of $7 to it.
