Infinera Co. (NASDAQ:INFN) Shares Sold by Apis Capital Advisors LLC

Apis Capital Advisors LLC lessened its position in shares of Infinera Co. (NASDAQ:INFN) by 53.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 427,822 shares of the communications equipment provider’s stock after selling 501,178 shares during the period. Infinera comprises 1.9% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Apis Capital Advisors LLC owned about 0.18% of Infinera worth $2,605,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INFN. SageView Advisory Group LLC acquired a new position in shares of Infinera during the first quarter worth $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the 4th quarter worth about $48,000. RPO LLC purchased a new position in shares of Infinera in the 4th quarter valued at about $82,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera during the 2nd quarter worth about $104,000. Finally, Headlands Technologies LLC purchased a new stake in Infinera during the second quarter worth approximately $112,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. StockNews.com initiated coverage on shares of Infinera in a report on Thursday. They set a “sell” rating on the stock. B. Riley dropped their price target on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Up 0.1 %

Shares of NASDAQ:INFN opened at $6.70 on Monday. Infinera Co. has a 52-week low of $2.82 and a 52-week high of $6.76. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -19.71 and a beta of 1.71. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The company has a 50 day moving average of $6.10 and a two-hundred day moving average of $5.61.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The company had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, analysts forecast that Infinera Co. will post -0.17 earnings per share for the current fiscal 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.