Thomas J. Fallon Buys 100,000 Shares of Infinera Corporation (INFN) Stock

Infinera Corporation (NASDAQ:INFN) CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $6.33 per share, for a total transaction of $633,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Infinera Corporation (NASDAQ:INFN) opened at $6.58 on Wednesday. Infinera Corporation has a one year low of $6.27 and a one year high of $12.50.

Infinera Corporation (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 consensus estimate of ($0.23) by $0.12. The company had revenue of $192.60 million during the quarter, compared to analysts’ expectations of $190.37 million. Infinera Corporation had a negative return on equity of 16.35% and a negative net margin of 21.59%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. equities analysts predict that Infinera Corporation will post -0.85 EPS for the current year.

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INFN has been the topic of several research reports. Needham & Company LLC restated a “strong-buy” rating and issued a $13.00 target price on shares of Infinera Corporation in a research report on Thursday, August 31st. Zacks Investment Research upgraded Infinera Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Craig Hallum started coverage on Infinera Corporation in a research report on Tuesday, July 18th. They issued a “buy” rating and a $15.00 target price on the stock. Citigroup Inc. lifted their price objective on Infinera Corporation from $8.50 to $10.00 and gave the stock a “sell” rating in a research report on Friday, July 21st. Finally, MKM Partners reiterated a “buy” rating and set a $14.00 price objective on shares of Infinera Corporation in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.96.

A number of hedge funds have recently bought and sold shares of INFN. UBS Asset Management Americas Inc. increased its stake in Infinera Corporation by 42.0% during the first quarter. UBS Asset Management Americas Inc. now owns 71,753 shares of the communications equipment provider’s stock worth $734,000 after acquiring an additional 21,217 shares during the last quarter. Teachers Advisors LLC increased its stake in Infinera Corporation by 510.1% during the first quarter. Teachers Advisors LLC now owns 1,416,917 shares of the communications equipment provider’s stock worth $14,495,000 after acquiring an additional 1,184,678 shares during the last quarter. Legal & General Group Plc increased its stake in Infinera Corporation by 27.8% during the first quarter. Legal & General Group Plc now owns 54,446 shares of the communications equipment provider’s stock worth $557,000 after acquiring an additional 11,828 shares during the last quarter. Vanguard Group Inc. increased its stake in Infinera Corporation by 4.6% during the first quarter. Vanguard Group Inc. now owns 11,415,540 shares of the communications equipment provider’s stock worth $116,781,000 after acquiring an additional 498,787 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Infinera Corporation by 13.3% during the first quarter. Geode Capital Management LLC now owns 1,212,946 shares of the communications equipment provider’s stock worth $12,408,000 after acquiring an additional 142,004 shares during the last quarter. 90.15% of the stock is owned by institutional investors.

Infinera Corporation 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.

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