KLP Kapitalforvaltning AS Invests $303,000 in Infinera Co. (NASDAQ:INFN)

KLP Kapitalforvaltning AS purchased a new position in shares of Infinera Co. (NASDAQ:INFN) during the fourth quarter, HoldingsChannel reports. The firm purchased 46,100 shares of the communications equipment provider’s stock, valued at approximately $303,000.

Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in Infinera by 332.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock worth $2,364,000 after purchasing an additional 269,372 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Infinera by 20.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock worth $329,000 after acquiring an additional 8,363 shares during the period. SG Americas Securities LLC raised its position in Infinera by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock worth $637,000 after acquiring an additional 14,595 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Infinera by 33.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 29,083 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Infinera by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock worth $32,605,000 after purchasing an additional 47,925 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Infinera in a research note on Saturday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Infinera currently has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

NASDAQ:INFN opened at $6.64 on Monday. Infinera Co. has a 52-week low of $4.49 and a 52-week high of $6.92. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $6.65. The company has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last announced its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The business had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, equities research analysts expect that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Infinera Company Profile

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.