Harbor Capital Advisors Inc. reduced its stake in Infinera Co. (NASDAQ:INFN - Free Report) by 96.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,711 shares of the communications equipment provider's stock after selling 1,235,165 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Infinera were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AIGH Capital Management LLC grew its stake in shares of Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider's stock worth $20,515,000 after acquiring an additional 2,479,272 shares during the period. Vanguard Group Inc. raised its position in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider's stock worth $163,108,000 after acquiring an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider's stock valued at $67,343,000 after acquiring an additional 2,025,658 shares during the period. Water Island Capital LLC bought a new stake in shares of Infinera during the 2nd quarter valued at $9,196,000. Finally, Hood River Capital Management LLC lifted its holdings in Infinera by 52.5% in the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider's stock worth $25,098,000 after purchasing an additional 1,432,016 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. B. Riley cut their price target on shares of Infinera from $9.00 to $6.65 and set a "buy" rating on the stock in a report on Monday, August 5th. Berenberg Bank raised shares of Infinera to a "hold" rating in a research note on Monday, August 5th. StockNews.com upgraded Infinera from a "sell" rating to a "hold" rating in a research report on Thursday. Rosenblatt Securities reissued a "neutral" rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $7.09.
Check Out Our Latest Report on Infinera
Infinera Stock Performance
NASDAQ INFN traded down $0.02 on Friday, hitting $6.63. 496,245 shares of the company's stock were exchanged, compared to its average volume of 5,036,414. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The firm's 50-day moving average price is $6.64 and its two-hundred day moving average price is $5.97. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -14.46 and a beta of 1.71. Infinera Co. has a fifty-two week low of $3.61 and a fifty-two week high of $6.92.
Infinera Profile
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Free Report)
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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