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.
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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.
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