State of Wisconsin Investment Board Takes Position in Infinera Corporation (INFN)
State of Wisconsin Investment Board purchased a new stake in shares of Infinera Corporation (NASDAQ:INFN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 195,000 shares of the communications equipment provider’s stock, valued at approximately $1,730,000. State of Wisconsin Investment Board owned approximately 0.13% of Infinera Corporation at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after purchasing an additional 1,186 shares in the last quarter. Fred Alger Management Inc. purchased a new position in shares of Infinera Corporation in the 2nd quarter worth $107,000. AlphaOne Investment Services LLC purchased a new position in shares of Infinera Corporation in the 2nd quarter worth $108,000. Summit Securities Group LLC purchased a new position in shares of Infinera Corporation in the 2nd quarter worth $109,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Infinera Corporation by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 409 shares during the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.
In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas J. Fallon purchased 100,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $6.33 per share, for a total transaction of $633,000.00. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by insiders.
Infinera Corporation (NASDAQ:INFN) opened at $7.32 on Thursday. Infinera Corporation has a 52-week low of $6.27 and a 52-week high of $12.50.
Infinera Corporation (NASDAQ:INFN) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. The company had revenue of $192.60 million for the quarter, compared to the consensus estimate of $190.37 million. Infinera Corporation had a negative return on equity of 16.35% and a negative net margin of 21.59%. Infinera Corporation’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) earnings per share. analysts forecast that Infinera Corporation will post -0.85 EPS for the current year.
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A number of equities analysts have recently issued reports on INFN shares. B. Riley restated a “buy” rating and issued a $14.00 price target on shares of Infinera Corporation in a research note on Friday, August 4th. Deutsche Bank AG dropped their price target on Infinera Corporation from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Zacks Investment Research upgraded Infinera Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Infinera Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $13.00 price target (down from $14.50) on shares of Infinera Corporation in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.96.
Infinera Corporation 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.
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