David W. Heard Acquires 20,000 Shares of Infinera Corp. (INFN) Stock

Infinera Corp. (NASDAQ:INFN) COO David W. Heard purchased 20,000 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was acquired at an average cost of $4.74 per share, for a total transaction of $94,800.00. Following the completion of the purchase, the chief operating officer now owns 44,532 shares in the company, valued at approximately $211,081.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ INFN opened at $4.70 on Friday. Infinera Corp. has a 1-year low of $4.11 and a 1-year high of $12.39.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.41 million for the quarter, compared to analyst estimates 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 was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. As a group, sell-side analysts anticipate that Infinera Corp. will post -0.62 EPS for the current year.

A number of brokerages have issued reports on INFN. Jefferies Financial Group raised Infinera from an “underperform” rating to a “hold” rating in a research note on Friday. Rosenblatt Securities lowered Infinera to a “hold” rating in a research note on Thursday. Nomura reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $12.00) on shares of Infinera in a research note on Wednesday. Needham & Company LLC reduced their price objective on Infinera from $14.00 to $9.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Finally, Piper Jaffray Companies reduced their price objective on Infinera to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Infinera presently has a consensus rating of “Hold” and a consensus price target of $9.40.

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Infinera by 100.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock worth $155,000 after acquiring an additional 7,800 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Infinera during the 3rd quarter worth approximately $165,000. Cim Investment Mangement Inc. acquired a new position in Infinera during the 3rd quarter worth approximately $197,000. Campbell & CO Investment Adviser LLC acquired a new position in Infinera during the 2nd quarter worth approximately $242,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in Infinera by 48.6% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 56,473 shares of the communications equipment provider’s stock worth $412,000 after acquiring an additional 18,457 shares in the last quarter. 82.94% of the stock is currently owned by hedge funds and other institutional investors.

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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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