Infinera Corp. (NASDAQ:INFN) COO David W. Heard bought 20,000 shares of the stock in a transaction dated Friday, November 9th. The shares were acquired at an average price of $4.74 per share, with a total value of $94,800.00. Following the completion of the purchase, the chief operating officer now directly owns 44,532 shares of the company’s stock, valued at $211,081.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of INFN stock traded up $0.26 during trading hours on Friday, hitting $4.70. 8,286,403 shares of the company were exchanged, compared to its average volume of 4,066,045. Infinera Corp. has a one year low of $4.11 and a one year high of $12.39.
Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Infinera had a negative net margin of 19.18% and a negative return on equity of 11.78%. The business had revenue of $200.41 million for the quarter, compared to analysts’ expectations of $210.57 million. During the same quarter last year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Infinera Corp. will post -0.62 EPS for the current year.
Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded Infinera from an “underperform” rating to a “hold” rating in a research note on Friday. Rosenblatt Securities downgraded Infinera to a “hold” rating in a research note on Thursday. Nomura restated a “neutral” rating and set a $6.00 target price (down from $12.00) on shares of Infinera in a research note on Wednesday. Needham & Company LLC lowered their target price on Infinera from $14.00 to $9.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Finally, Piper Jaffray Companies reduced their price target on shares of Infinera to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently 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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