Wellington Management Group LLP Purchases Shares of 330,678 Infinera Corporation (NASDAQ:INFN)

Wellington Management Group LLP acquired a new stake in Infinera Corporation (NASDAQ:INFN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 330,678 shares of the communications equipment provider’s stock, valued at approximately $3,383,000. Wellington Management Group LLP owned 0.23% of Infinera Corporation as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bbva Compass Bancshares Inc. purchased a new position in shares of Infinera Corporation during the first quarter valued at about $103,000. First National Bank of Omaha purchased a new position in shares of Infinera Corporation during the first quarter valued at about $104,000. Karp Capital Management Corp purchased a new position in shares of Infinera Corporation during the first quarter valued at about $106,000. Parametrica Management Ltd bought a new position in shares of Infinera Corporation during the first quarter valued at $154,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Infinera Corporation by 55.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,571 shares of the communications equipment provider’s stock valued at $132,000 after buying an additional 5,538 shares in the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.

Infinera Corporation (INFN) traded down 1.19% during mid-day trading on Tuesday, hitting $9.14. The stock had a trading volume of 3,016,103 shares. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $10.42. The firm’s market cap is $1.34 billion. Infinera Corporation has a 12-month low of $7.23 and a 12-month high of $12.50.

Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.01. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.25%. The firm had revenue of $176.28 million during the quarter, compared to analysts’ expectations of $181.16 million. During the same period in the previous year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. Equities analysts anticipate that Infinera Corporation will post ($0.54) EPS for the current fiscal year.

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Several research analysts recently weighed in on the company. B. Riley upgraded Infinera Corporation to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, June 27th. BidaskClub cut Infinera Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Citigroup Inc. lifted their price target on Infinera Corporation from $8.50 to $10.00 and gave the company a “sell” rating in a research report on Friday, July 21st. MKM Partners reiterated a “buy” rating and set a $14.00 price target on shares of Infinera Corporation in a research report on Friday, July 21st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Infinera Corporation in a research report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Infinera Corporation currently has an average rating of “Hold” and a consensus target price of $12.05.

In related news, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $9.29, for a total value of $185,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David F. Welch sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock valued at $729,400 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Institutional Ownership by Quarter for Infinera Corporation (NASDAQ:INFN)

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