Intellectus Partners LLC Has $1.43 Million Position in Infinera Co. (NASDAQ:INFN)

Intellectus Partners LLC decreased its position in shares of Infinera Co. (NASDAQ:INFN) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,450 shares of the communications equipment provider’s stock after selling 19,700 shares during the period. Intellectus Partners LLC owned about 0.09% of Infinera worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INFN. SageView Advisory Group LLC bought a new position in shares of Infinera in the 1st quarter valued at $39,000. EverSource Wealth Advisors LLC bought a new position in Infinera in the second quarter valued at about $104,000. Headlands Technologies LLC acquired a new position in Infinera during the second quarter worth about $112,000. Algert Global LLC acquired a new position in Infinera during the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC boosted its stake in shares of 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. 97.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on INFN. JPMorgan Chase & Co. raised their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Up 0.2 %

Infinera stock opened at $6.64 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera Co. has a one year low of $3.79 and a one year high of $6.92. The stock’s 50 day moving average is $6.68 and its 200 day moving average is $6.03.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. On average, research analysts anticipate that Infinera Co. will post -0.22 EPS for the current fiscal 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.