Kovack Advisors Inc. Increases Stock Holdings in Infinera Co. (NASDAQ:INFN)

Kovack Advisors Inc. increased its stake in shares of Infinera Co. (NASDAQ:INFN) by 39.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,500 shares of the communications equipment provider’s stock after buying an additional 154,904 shares during the quarter. Kovack Advisors Inc.’s holdings in Infinera were worth $3,307,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Brown Advisory Inc. lifted its position in shares of Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after buying an additional 1,108,567 shares during the last quarter. Vanguard Group Inc. boosted its position in Infinera by 1.3% during the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock worth $101,495,000 after purchasing an additional 314,856 shares during the period. Victory Capital Management Inc. increased its stake in shares of Infinera by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after purchasing an additional 5,661 shares in the last quarter. DDD Partners LLC raised its position in shares of Infinera by 101.1% in the fourth quarter. DDD Partners LLC now owns 29,694 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 14,925 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Infinera by 12.1% during the 4th quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock valued at $225,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INFN shares. Craig Hallum reiterated a “hold” rating and issued a $6.65 price objective (down from $12.00) on shares of Infinera in a research note on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Morgan Stanley raised their target price on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. B. Riley reissued a “buy” rating and issued a $9.00 price target on shares of Infinera in a report on Wednesday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.55.

Infinera Stock Performance

Shares of Infinera stock traded up $0.06 on Thursday, hitting $6.26. 7,623,704 shares of the company traded hands, compared to its average volume of 5,429,452. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $6.62. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. The firm’s 50-day simple moving average is $5.36 and its 200 day simple moving average is $5.15.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The firm had revenue of $306.92 million for the quarter, compared to analysts’ expectations of $337.73 million. On average, analysts expect that Infinera Co. will post -0.19 EPS for the current year.

Infinera 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.