XTX Topco Ltd Buys New Shares in Infinera Co. (NASDAQ:INFN)

XTX Topco Ltd bought a new stake in Infinera Co. (NASDAQ:INFN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 127,056 shares of the communications equipment provider’s stock, valued at approximately $774,000. XTX Topco Ltd owned 0.05% of Infinera at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Infinera by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after acquiring an additional 2,180 shares during the period. Graypoint LLC increased its position in shares of Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 2,438 shares during the period. ProShare Advisors LLC increased its position in shares of Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 2,821 shares during the period. Principal Financial Group Inc. increased its position in shares of Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 3,725 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after acquiring an additional 3,800 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. B. Riley cut their target price on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Berenberg Bank raised Infinera to a “hold” rating in a research report on Monday, August 5th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Trading Up 0.1 %

INFN stock opened at $6.70 on Monday. The company’s 50-day simple moving average is $6.10 and its 200-day simple moving average is $5.61. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. Infinera Co. has a 52-week low of $2.82 and a 52-week high of $6.76. The firm has a market cap of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.71.

Infinera (NASDAQ:INFN) last posted its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that Infinera Co. will post -0.17 EPS for the current fiscal year.

About Infinera

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.