King Luther Capital Management Corp cut its holdings in Infinera Corporation (NASDAQ:INFN) by 20.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 384,610 shares of the communications equipment provider’s stock after selling 101,480 shares during the quarter. King Luther Capital Management Corp owned about 0.26% of Infinera Corporation worth $4,104,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its holdings in shares of Infinera Corporation by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 409 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its holdings in shares of Infinera Corporation by 2.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 16,714 shares of the communications equipment provider’s stock valued at $178,000 after acquiring an additional 469 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Infinera Corporation by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 710 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Infinera Corporation by 1.8% in the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 972 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after acquiring an additional 1,186 shares in the last quarter. Institutional investors own 86.70% of the company’s stock.

Several brokerages have recently weighed in on INFN. B. Riley raised shares of Infinera Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.50 to $14.00 in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of Infinera Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $13.00 target price on shares of Infinera Corporation in a report on Thursday, August 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 target price on shares of Infinera Corporation in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.82.

Infinera Corporation (NASDAQ:INFN) opened at 8.37 on Friday. The firm’s 50-day moving average is $9.02 and its 200-day moving average is $10.15. The firm’s market cap is $1.24 billion. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50.

Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The business had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. Equities analysts expect that Infinera Corporation will post ($0.56) earnings per share for the current year.

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In other news, President David F. Welch sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total transaction of $185,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President David F. Welch sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,000 shares of company stock valued at $729,400. Insiders own 2.90% of the company’s stock.

About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Institutional Ownership by Quarter for Infinera Corporation (NASDAQ:INFN)

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