Thomas J. Fallon Acquires 50,000 Shares of Infinera Corp. (INFN) Stock

Infinera Corp. (NASDAQ:INFN) CEO Thomas J. Fallon bought 50,000 shares of the stock in a transaction dated Friday, November 9th. The shares were acquired at an average price of $4.63 per share, with a total value of $231,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ:INFN traded up $0.26 during mid-day trading on Friday, reaching $4.70. The stock had a trading volume of 8,286,403 shares, compared to its average volume of 4,066,045. Infinera Corp. has a 1-year low of $4.11 and a 1-year high of $12.39.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The business had revenue of $200.41 million during the quarter, compared to the consensus estimate of $210.57 million. Infinera had a negative return on equity of 11.78% and a negative net margin of 19.18%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, analysts predict that Infinera Corp. will post -0.62 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board lifted its holdings in Infinera by 31.3% in the third quarter. Canada Pension Plan Investment Board now owns 267,099 shares of the communications equipment provider’s stock worth $1,950,000 after acquiring an additional 63,600 shares during the last quarter. Elk Creek Partners LLC lifted its holdings in Infinera by 26.0% in the third quarter. Elk Creek Partners LLC now owns 2,350,922 shares of the communications equipment provider’s stock worth $17,162,000 after acquiring an additional 484,850 shares during the last quarter. FMR LLC lifted its holdings in Infinera by 3.3% in the third quarter. FMR LLC now owns 23,100,000 shares of the communications equipment provider’s stock worth $168,630,000 after acquiring an additional 742,901 shares during the last quarter. Cim Investment Mangement Inc. bought a new position in Infinera in the third quarter worth about $197,000. Finally, Eagle Boston Investment Management Inc. lifted its holdings in Infinera by 22.1% in the third quarter. Eagle Boston Investment Management Inc. now owns 396,435 shares of the communications equipment provider’s stock worth $2,893,000 after acquiring an additional 71,691 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

Several analysts have recently weighed in on the company. BidaskClub downgraded Infinera from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. MKM Partners lowered their target price on Infinera to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, July 24th. Rosenblatt Securities set a $13.00 target price on Infinera and gave the company a “buy” rating in a research note on Tuesday, July 24th. Raymond James downgraded Infinera from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 24th. Finally, Jefferies Financial Group restated a “sell” rating and set a $8.00 target price on shares of Infinera in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.40.

ILLEGAL ACTIVITY WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/11/10/thomas-j-fallon-acquires-50000-shares-of-infinera-corp-infn-stock.html.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Read More: Why do companies engage in swaps?

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


Leave a Reply