First Hawaiian Bank Makes New Investment in Infinera Co. (NASDAQ:INFN)

First Hawaiian Bank bought a new position in Infinera Co. (NASDAQ:INFN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 109,389 shares of the communications equipment provider’s stock, valued at approximately $666,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Infinera by 52.5% during the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after purchasing an additional 1,432,016 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Infinera by 8.0% during the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after purchasing an additional 1,108,567 shares during the last quarter. AMH Equity Ltd purchased a new position in shares of Infinera during the first quarter valued at approximately $1,990,000. Finally, Kovack Advisors Inc. raised its holdings in shares of Infinera by 39.4% during the first quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after purchasing an additional 154,904 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Price Performance

Shares of INFN traded down $0.12 during mid-day trading on Monday, reaching $5.76. The stock had a trading volume of 6,479,349 shares, compared to its average volume of 4,073,147. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -17.06 and a beta of 1.64. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $6.62. The business has a fifty day moving average of $5.73 and a 200 day moving average of $5.36. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Equities analysts predict that Infinera Co. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on INFN. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. B. Riley cut their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday. Craig Hallum restated a “hold” rating and set a $6.65 target price (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Stifel Nicolaus restated a “buy” rating and set a $7.00 target price on shares of Infinera in a research report on Wednesday, May 15th. Finally, Morgan Stanley boosted their target price on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.27.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.