Infinera Co. (NASDAQ:INFN) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its stake in Infinera Co. (NASDAQ:INFN) by 56.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 61,358 shares of the communications equipment provider’s stock after selling 79,350 shares during the quarter. Inspire Investing LLC’s holdings in Infinera were worth $414,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of INFN. SageView Advisory Group LLC acquired a new stake in shares of Infinera in the first quarter valued at about $39,000. EverSource Wealth Advisors LLC purchased a new position in Infinera in the second quarter valued at about $104,000. Headlands Technologies LLC purchased a new position in Infinera in the second quarter valued at about $112,000. Algert Global LLC purchased a new position in Infinera in the second quarter valued at about $128,000. Finally, Principal Financial Group Inc. boosted its holdings in Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 3,725 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INFN shares. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a report on Friday, June 28th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Craig Hallum reaffirmed a “hold” rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. B. Riley reduced their target price on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Trading Up 0.6 %

NASDAQ:INFN opened at $6.74 on Thursday. The company has a market cap of $1.58 billion, a PE ratio of -19.82 and a beta of 1.72. Infinera Co. has a 52 week low of $2.82 and a 52 week high of $6.92. 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 business’s 50 day moving average is $6.39 and its two-hundred day moving average is $5.82.

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

Infinera Company 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.