Harbor Capital Advisors Inc. Raises Stake in Infinera Co. (NASDAQ:INFN)

Harbor Capital Advisors Inc. boosted its holdings in Infinera Co. (NASDAQ:INFN) by 20.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 50,074 shares of the communications equipment provider’s stock after buying an additional 8,363 shares during the period. Harbor Capital Advisors Inc.’s holdings in Infinera were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INFN. Rhumbline Advisers raised its stake in shares of Infinera by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 295,585 shares of the communications equipment provider’s stock valued at $1,800,000 after acquiring an additional 18,598 shares during the period. Victory Capital Management Inc. grew its holdings in Infinera by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 144,794 shares of the communications equipment provider’s stock valued at $882,000 after purchasing an additional 10,546 shares in the last quarter. Arizona State Retirement System increased its stake in Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after buying an additional 2,180 shares during the period. American Century Companies Inc. boosted its position in Infinera by 36.1% in the 2nd quarter. American Century Companies Inc. now owns 180,640 shares of the communications equipment provider’s stock valued at $1,100,000 after buying an additional 47,930 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Infinera by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after acquiring an additional 748,155 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INFN. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Price Performance

Shares of INFN opened at $6.60 on Wednesday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The company has a market cap of $1.56 billion, a P/E ratio of -13.75 and a beta of 1.64. Infinera Co. has a 12 month low of $4.41 and a 12 month high of $6.92. The stock has a fifty day moving average price of $6.61 and a 200 day moving average price of $6.43.

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