Trexquant Investment LP acquired a new stake in shares of Infinera Corp. (NASDAQ:INFN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 67,336 shares of the communications equipment provider’s stock, valued at approximately $689,000.
Several other hedge funds also recently made changes to their positions in INFN. Fisher Asset Management LLC acquired a new stake in shares of Infinera Corp. during the first quarter worth $52,424,000. Capital Research Global Investors acquired a new stake in shares of Infinera Corp. during the third quarter worth $29,844,000. Jennison Associates LLC boosted its stake in shares of Infinera Corp. by 4,929.1% in the first quarter. Jennison Associates LLC now owns 1,883,149 shares of the communications equipment provider’s stock worth $19,265,000 after buying an additional 1,845,704 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Infinera Corp. by 116.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,172,456 shares of the communications equipment provider’s stock worth $26,934,000 after buying an additional 1,709,113 shares during the period. Finally, Empyrean Capital Partners LP boosted its stake in shares of Infinera Corp. by 213.0% in the fourth quarter. Empyrean Capital Partners LP now owns 2,000,000 shares of the communications equipment provider’s stock worth $16,980,000 after buying an additional 1,361,096 shares during the period. 70.16% of the stock is owned by institutional investors.
Infinera Corp. (NASDAQ:INFN) opened at 9.78 on Thursday. The firm has a 50-day moving average of $9.68 and a 200-day moving average of $9.52. The firm’s market cap is $1.43 billion. Infinera Corp. has a one year low of $7.23 and a one year high of $13.81.
Infinera Corp. (NASDAQ:INFN) last released its quarterly earnings data on Thursday, May 4th. The communications equipment provider reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $172.62 million. Infinera Corp. had a negative net margin of 2.75% and a positive return on equity of 1.60%. The firm’s revenue for the quarter was down 28.3% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. Analysts anticipate that Infinera Corp. will post ($0.44) EPS for the current year.
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INFN has been the subject of a number of research reports. Zacks Investment Research cut shares of Infinera Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Deutsche Bank AG upped their price target on shares of Infinera Corp. from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, March 20th. Goldman Sachs Group Inc raised shares of Infinera Corp. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $10.00 to $13.50 in a research report on Thursday, March 16th. William Blair reaffirmed a “buy” rating on shares of Infinera Corp. in a research report on Sunday, February 12th. Finally, Instinet raised shares of Infinera Corp. from a “neutral” rating to a “buy” rating in a research report on Friday, February 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Infinera Corp. has a consensus rating of “Hold” and an average target price of $10.95.
About Infinera Corp.
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.
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