Infinera Sees Unusually High Options Volume (INFN)

Infinera Corp. (NASDAQ:INFN) saw unusually large options trading on Friday. Stock traders acquired 1,226 put options on the stock. This represents an increase of 1,151% compared to the average volume of 98 put options.

Several analysts have recently weighed in on INFN shares. B. Riley restated a “buy” rating and set a $12.00 price target (down from $14.00) on shares of Infinera in a report on Tuesday, November 7th. BidaskClub upgraded Infinera from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research cut Infinera from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Stifel Nicolaus restated a “hold” rating and set a $9.00 price target (down from $10.00) on shares of Infinera in a report on Thursday, November 9th. Finally, Citigroup upgraded Infinera from a “sell” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.09.

Infinera (NASDAQ:INFN) opened at $6.75 on Monday. The company has a market capitalization of $1,007.96, a P/E ratio of -6.31 and a beta of 1.44. Infinera has a 12 month low of $6.27 and a 12 month high of $12.50.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.12. The company had revenue of $192.60 million for the quarter, compared to analyst estimates of $190.37 million. Infinera 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) earnings per share. equities research analysts predict that Infinera will post -0.85 EPS for the current fiscal year.

In other news, CEO Thomas J. Fallon purchased 100,000 shares of Infinera stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $6.33 per share, for a total transaction of $633,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in Infinera by 1.8% in the second quarter. Legal & General Group Plc now owns 55,418 shares of the communications equipment provider’s stock valued at $591,000 after buying an additional 972 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Infinera by 521.5% in the second quarter. BNP Paribas Arbitrage SA now owns 18,546 shares of the communications equipment provider’s stock valued at $198,000 after buying an additional 15,562 shares during the period. Prudential Financial Inc. lifted its stake in Infinera by 4.9% in the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock valued at $161,000 after buying an additional 710 shares during the period. Swiss National Bank lifted its stake in Infinera by 3.3% in the second quarter. Swiss National Bank now owns 247,000 shares of the communications equipment provider’s stock valued at $2,635,000 after buying an additional 7,900 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Infinera by 0.4% in the second quarter. Wells Fargo & Company MN now owns 1,617,512 shares of the communications equipment provider’s stock valued at $17,259,000 after buying an additional 6,223 shares during the period. 90.57% of the stock is currently owned by institutional investors.

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About Infinera

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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