Swiss National Bank Purchases 12,100 Shares of Infinera Co. (NASDAQ:INFN)

Swiss National Bank lifted its position in Infinera Co. (NASDAQ:INFN – Get Rating) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 471,400 shares of the communications equipment provider’s stock after purchasing an additional 12,100 shares during the quarter. Swiss National Bank owned 0.21% of Infinera worth $3,177,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in shares of Infinera by 54.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 6,304 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 2,212 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Infinera by 200.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 7,841 shares of the communications equipment provider’s stock worth $53,000 after buying an additional 5,229 shares in the last quarter. Shay Capital LLC acquired a new position in Infinera during the 1st quarter worth about $87,000. Mackenzie Financial Corp acquired a new position in Infinera during the 1st quarter worth about $89,000. Finally, XTX Topco Ltd acquired a new position in Infinera during the 1st quarter worth about $89,000. Institutional investors own 97.74% of the company’s stock.

Insider Buying and Selling

In other Infinera news, CEO David W. Heard bought 6,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was acquired at an average cost of $4.95 per share, with a total value of $29,700.00. Following the purchase, the chief executive officer now owns 744,943 shares in the company, valued at $3,687,467.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is owned by company insiders.

Infinera Stock Performance

Shares of INFN stock opened at $4.95 on Tuesday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.69 and a quick ratio of 1.04. The stock has a market cap of $1.12 billion, a PE ratio of -23.57 and a beta of 1.41. The stock has a 50-day moving average of $6.48 and a 200-day moving average of $6.78. Infinera Co. has a one year low of $4.26 and a one year high of $7.80.

Infinera (NASDAQ:INFN – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Infinera had a negative return on equity of 9.66% and a negative net margin of 2.62%. The company had revenue of $392.08 million during the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the prior year, the business posted ($0.13) EPS. Infinera’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Infinera Co. will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on INFN shares. Northland Securities reduced their price target on shares of Infinera from $7.00 to $6.00 in a research report on Thursday, May 4th. StockNews.com began coverage on shares of Infinera in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC restated a “strong-buy” rating and set a $15.00 target price on shares of Infinera in a research report on Monday, March 13th. Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Infinera in a research report on Friday, February 24th. Finally, Morgan Stanley upped their target price on shares of Infinera from $7.00 to $7.50 and gave the company an “equal weight” rating in a research report on Thursday, March 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Infinera Profile

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Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.