Dynamic Technology Lab Private Ltd Takes $1.24 Million Position in Infinera Co. (NASDAQ:INFN)

Dynamic Technology Lab Private Ltd acquired a new position in Infinera Co. (NASDAQ:INFN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 188,948 shares of the communications equipment provider’s stock, valued at approximately $1,241,000.

Other large investors also recently added to or reduced their stakes in the company. Vestcor Inc purchased a new position in shares of Infinera during the 4th quarter worth $34,000. Quantbot Technologies LP bought a new position in Infinera in the 3rd quarter worth $40,000. LPL Financial LLC purchased a new position in Infinera during the fourth quarter valued at $70,000. Wealthfront Advisers LLC bought a new stake in Infinera during the fourth quarter valued at about $76,000. Finally, Cibc World Markets Corp purchased a new stake in Infinera in the fourth quarter worth about $124,000. 97.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Infinera in a research note on Saturday. They set a “hold” rating for the company. One equities research 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 data from MarketBeat.com, Infinera has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

NASDAQ:INFN opened at $6.64 on Friday. The stock has a 50-day moving average price of $6.64 and a 200 day moving average price of $6.65. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. Infinera Co. has a 12-month low of $4.49 and a 12-month high of $6.92. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The company had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. Equities research analysts forecast that Infinera Co. will post -0.33 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.