Xact Kapitalforvaltning AB Purchases New Stake in Infinera (INFN)

Xact Kapitalforvaltning AB purchased a new position in shares of Infinera (NASDAQ:INFN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,606 shares of the communications equipment provider’s stock, valued at approximately $130,000.

Several other hedge funds also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board grew its position in shares of Infinera by 5.1% during the fourth quarter. State of Wisconsin Investment Board now owns 205,000 shares of the communications equipment provider’s stock worth $1,298,000 after buying an additional 10,000 shares in the last quarter. Jane Street Group LLC grew its position in shares of Infinera by 2,170.9% during the fourth quarter. Jane Street Group LLC now owns 15,896 shares of the communications equipment provider’s stock worth $101,000 after buying an additional 15,196 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Infinera during the fourth quarter worth approximately $155,000. MANA Advisors LLC acquired a new stake in shares of Infinera during the fourth quarter worth approximately $161,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Infinera by 66.9% in the third quarter. Cubist Systematic Strategies LLC now owns 65,395 shares of the communications equipment provider’s stock worth $580,000 after purchasing an additional 26,216 shares during the period. 87.32% of the stock is owned by institutional investors and hedge funds.

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INFN stock opened at $11.57 on Friday. The firm has a market capitalization of $1,759.56, a price-to-earnings ratio of -13.94 and a beta of 0.53. Infinera has a 1 year low of $6.10 and a 1 year high of $12.38.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $195.82 million for the quarter, compared to analysts’ expectations of $190.26 million. Infinera had a negative return on equity of 17.20% and a negative net margin of 26.26%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. equities research analysts anticipate that Infinera will post -0.43 EPS for the current fiscal year.

A number of equities analysts have commented on INFN shares. B. Riley lifted their price objective on shares of Infinera from $10.75 to $11.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Drexel Hamilton reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Infinera in a report on Wednesday, March 21st. BidaskClub raised shares of Infinera from a “hold” rating to a “buy” rating in a report on Saturday, April 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Infinera in a report on Monday, April 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.50 price objective (up previously from $8.00) on shares of Infinera in a report on Friday, March 9th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.58.

In other Infinera news, insider David F. Welch sold 149,093 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $10.03, for a total value of $1,495,402.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David F. Welch sold 80,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $9.14, for a total value of $731,200.00. The disclosure for this sale can be found here. Insiders sold 289,093 shares of company stock worth $2,770,803 over the last quarter. 2.90% of the stock is currently owned by company insiders.

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About Infinera

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

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