Kovack Advisors Inc. Reduces Stock Position in Infinera Co. (NASDAQ:INFN)

Kovack Advisors Inc. reduced its stake in Infinera Co. (NASDAQ:INFN) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,596 shares of the communications equipment provider’s stock after selling 17,700 shares during the period. Kovack Advisors Inc. owned 0.17% of Infinera worth $1,870,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INFN. New York State Common Retirement Fund increased its stake in shares of Infinera by 38.7% during the fourth quarter. New York State Common Retirement Fund now owns 81,159 shares of the communications equipment provider’s stock valued at $386,000 after purchasing an additional 22,640 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Infinera by 12.1% during the fourth quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after purchasing an additional 5,100 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in shares of Infinera during the fourth quarter valued at approximately $194,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Infinera by 38.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,155 shares of the communications equipment provider’s stock valued at $224,000 after acquiring an additional 12,983 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Infinera by 53.8% during the fourth quarter. Mackenzie Financial Corp now owns 18,933 shares of the communications equipment provider’s stock valued at $90,000 after acquiring an additional 6,619 shares in the last quarter. 97.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $7.50 price target on shares of Infinera in a research report on Thursday, March 7th. StockNews.com downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Needham & Company LLC assumed coverage on shares of Infinera in a report on Monday, April 22nd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $7.00 target price on shares of Infinera in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus price target of $6.85.

Infinera Trading Up 2.6 %

Shares of INFN stock traded up $0.13 during mid-day trading on Friday, reaching $5.10. 1,326,380 shares of the company’s stock traded hands, compared to its average volume of 3,638,496. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $6.62. The firm has a 50 day moving average price of $5.15 and a two-hundred day moving average price of $4.62. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 3.63.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $392.37 million during the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. Equities analysts forecast that Infinera Co. will post -0.06 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.