Segall Bryant & Hamill LLC cut its holdings in shares of Infinera Corporation (NASDAQ:INFN) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 651,340 shares of the communications equipment provider’s stock after selling 9,681 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.44% of Infinera worth $5,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elk Creek Partners LLC grew its holdings in shares of Infinera by 10.9% during the 3rd quarter. Elk Creek Partners LLC now owns 1,834,820 shares of the communications equipment provider’s stock worth $16,275,000 after purchasing an additional 180,463 shares during the period. Formula Growth Ltd. purchased a new position in shares of Infinera during the 3rd quarter worth $4,692,000. Dimensional Fund Advisors LP grew its holdings in shares of Infinera by 17.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,642,887 shares of the communications equipment provider’s stock worth $41,182,000 after purchasing an additional 675,584 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Infinera by 13.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 680,253 shares of the communications equipment provider’s stock worth $6,034,000 after purchasing an additional 82,398 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Infinera by 8.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock worth $15,505,000 after purchasing an additional 130,573 shares during the period. Institutional investors and hedge funds own 90.72% of the company’s stock.

Infinera Corporation (NASDAQ:INFN) opened at $6.66 on Friday. Infinera Corporation has a 12 month low of $6.27 and a 12 month high of $12.50.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. The firm had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. Infinera had a negative return on equity of 16.35% and a negative net margin of 21.59%. Infinera’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. equities research analysts anticipate that Infinera Corporation will post -0.85 EPS for the current year.

A number of research firms have recently weighed in on INFN. Citigroup lowered their price target on Infinera from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, November 10th. William Blair reiterated a “buy” rating on shares of Infinera in a report on Thursday, November 9th. Nomura lowered their price target on Infinera from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Craig Hallum reiterated a “buy” rating and set a $10.00 price target (down from $15.00) on shares of Infinera in a report on Thursday, November 9th. Finally, MKM Partners cut Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.96.

In related news, CEO Thomas J. Fallon purchased 100,000 shares of Infinera stock in a transaction on Monday, November 13th. The shares were bought at an average price of $6.33 per share, with a total value of $633,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President David F. Welch sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: This news story was published by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.dailypolitical.com/2017/12/09/infinera-corporation-infn-shares-sold-by-segall-bryant-hamill-llc.html.

Infinera Company Profile

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 (NASDAQ:INFN)

Receive News & Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related companies with MarketBeat.com's FREE daily email newsletter.