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

Harbor Capital Advisors Inc. lowered its stake in shares of Infinera Co. (NASDAQ:INFN) by 96.7% during the third quarter, according to the company in its most recent disclosure with the Securities and 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 and Exchange Commission.

Several other institutional investors have also modified their holdings of INFN. SageView Advisory Group LLC purchased a new stake in Infinera in the first quarter valued at $39,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera during the second quarter worth about $104,000. Headlands Technologies LLC purchased a new stake in shares of Infinera in the 2nd quarter valued at about $112,000. Algert Global LLC acquired a new stake in shares of Infinera in the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC grew its stake in Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 1,850 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. upped 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. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price target on shares of Infinera in a report on Wednesday. Finally, B. Riley dropped their price target on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. 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. Based on data from MarketBeat, Infinera currently has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Price Performance

Shares of INFN opened at $6.65 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of -14.46 and a beta of 1.71. The stock’s 50 day moving average is $6.64 and its two-hundred day moving average is $5.97. Infinera Co. has a twelve month low of $3.07 and a twelve month high of $6.92. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02.

About Infinera

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.