Infinera Co. (NASDAQ:INFN) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of Infinera Co. (NASDAQ:INFN) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,074 shares of the communications equipment provider’s stock after purchasing an additional 8,363 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Infinera were worth $329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Infinera in the 3rd quarter worth $40,000. EverSource Wealth Advisors LLC purchased a new position in Infinera during the second quarter worth about $104,000. Algert Global LLC acquired a new stake in Infinera in the second quarter valued at about $128,000. Palumbo Wealth Management LLC boosted its holdings in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Creative Planning increased its position in Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 14,193 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INFN has been the topic of a number of analyst reports. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 price target on shares of Infinera in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Trading Up 0.2 %

NASDAQ:INFN opened at $6.60 on Wednesday. Infinera Co. has a 52-week low of $4.41 and a 52-week high of $6.92. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $6.43. The company has a market capitalization of $1.56 billion, a PE ratio of -13.75 and a beta of 1.64.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities research analysts expect that Infinera Co. will post -0.25 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.