Thomas J. Fallon Buys 100,000 Shares of Infinera Corporation (INFN) Stock
Infinera Corporation (NASDAQ:INFN) CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $6.33 per share, with a total value of $633,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Infinera Corporation (NASDAQ INFN) traded up $0.49 during mid-day trading on Monday, reaching $6.85. The company’s stock had a trading volume of 4,829,593 shares, compared to its average volume of 1,910,151. Infinera Corporation has a 12-month low of $6.28 and a 12-month high of $12.50.
Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.12. Infinera Corporation had a negative return on equity of 16.35% and a negative net margin of 21.59%. The firm had revenue of $192.60 million during the quarter, compared to the consensus estimate of $190.37 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. equities research analysts forecast that Infinera Corporation will post -0.85 EPS for the current fiscal year.
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A number of analysts have recently issued reports on INFN shares. B. Riley reiterated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of Infinera Corporation in a research report on Tuesday, November 7th. Craig Hallum started coverage on Infinera Corporation in a research report on Tuesday, July 18th. They set a “buy” rating and a $15.00 price target for the company. Deutsche Bank AG dropped their price target on Infinera Corporation from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and set a $9.00 price target (down previously from $10.00) on shares of Infinera Corporation in a research report on Thursday. Finally, MKM Partners dropped their price target on Infinera Corporation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 18th. Two equities research 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 currently has an average rating of “Hold” and an average price target of $10.96.
About Infinera Corporation
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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