Boussard & Gavaudan Investment Management LLP boosted its position in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 3,666.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,298 shares of the communications equipment provider's stock after buying an additional 183,298 shares during the quarter. Boussard & Gavaudan Investment Management LLP owned 0.08% of Infinera worth $1,253,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Citigroup Inc. boosted its position in shares of Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider's stock valued at $19,676,000 after purchasing an additional 2,782,789 shares during the period. AIGH Capital Management LLC boosted its position in shares of Infinera by 278.8% in the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider's stock valued at $20,515,000 after purchasing an additional 2,479,272 shares during the period. Vanguard Group Inc. boosted its position in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider's stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Infinera in the 3rd quarter valued at $13,761,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider's stock valued at $67,343,000 after purchasing an additional 2,025,658 shares during the period. Institutional investors own 97.54% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Rosenblatt Securities reissued a "neutral" rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Tuesday, August 6th. Berenberg Bank raised Infinera to a "hold" rating in a research note on Monday, August 5th. Finally, B. Riley downgraded Infinera from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.09.
Read Our Latest Research Report on Infinera
Infinera Stock Performance
INFN remained flat at $6.61 during midday trading on Thursday. The company's stock had a trading volume of 1,635,150 shares, compared to its average volume of 4,806,405. The stock has a market capitalization of $1.57 billion, a PE ratio of -13.77 and a beta of 1.71. The firm has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $6.13. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera Co. has a 12-month low of $3.79 and a 12-month high of $6.92.
Infinera (NASDAQ:INFN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The firm had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Sell-side analysts expect that Infinera Co. will post -0.25 earnings per share for the current year.
About Infinera
(
Free Report)
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.
Featured Stories
Before you consider Infinera, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Infinera wasn't on the list.
While Infinera currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
