Keeley Teton Advisors LLC raised its stake in Infinera Co. (NASDAQ:INFN – Free Report) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,284 shares of the communications equipment provider’s stock after acquiring an additional 8,384 shares during the period. Keeley Teton Advisors LLC owned approximately 0.07% of Infinera worth $641,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of INFN. JPMorgan Chase & Co. grew its position in Infinera by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 480,957 shares of the communications equipment provider’s stock valued at $4,170,000 after purchasing an additional 28,537 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Infinera by 55.1% during the first quarter. MetLife Investment Management LLC now owns 97,643 shares of the communications equipment provider’s stock valued at $847,000 after buying an additional 34,680 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Infinera by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,836,540 shares of the communications equipment provider’s stock valued at $33,263,000 after acquiring an additional 208,779 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Infinera in the 1st quarter worth approximately $89,000. Finally, XTX Topco Ltd bought a new position in Infinera in the 1st quarter valued at approximately $89,000. 99.49% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.72.
Infinera Trading Up 1.4 %
Shares of INFN stock opened at $5.05 on Tuesday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 1.00 and a current ratio of 1.68. Infinera Co. has a 12-month low of $2.82 and a 12-month high of $7.80. The firm’s 50 day moving average is $4.71 and its 200 day moving average is $4.21.
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.
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