Infinera Co. (NASDAQ:INFN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in shares of Infinera Co. (NASDAQ:INFN) by 44.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,406 shares of the communications equipment provider’s stock after acquiring an additional 25,600 shares during the period. Handelsbanken Fonder AB’s holdings in Infinera were worth $563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of INFN. SG Americas Securities LLC purchased a new position in shares of Infinera during the 3rd quarter worth approximately $556,000. Water Island Capital LLC acquired a new stake in shares of Infinera during the 2nd quarter worth about $9,196,000. Algert Global LLC acquired a new stake in Infinera during the second quarter worth approximately $128,000. Shellback Capital LP purchased a new stake in Infinera in the 2nd quarter worth approximately $5,874,000. Finally, The Manufacturers Life Insurance Company grew its stake in Infinera by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock worth $626,000 after acquiring an additional 4,266 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Stock Up 0.6 %

Shares of NASDAQ:INFN opened at $6.67 on Monday. The stock has a 50-day simple moving average of $6.33 and a 200-day simple moving average of $5.80. The stock has a market capitalization of $1.56 billion, a P/E ratio of -19.62 and a beta of 1.72. Infinera Co. has a 1 year low of $2.82 and a 1 year high of $6.92. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. Equities analysts forecast that Infinera Co. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

INFN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. Craig Hallum restated a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. B. Riley cut their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Sunday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Infinera currently has an average rating of “Hold” and an average target price of $7.09.

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.