David W. Heard Acquires 6,000 Shares of Infinera Co. (NASDAQ:INFN) Stock

Infinera Co. (NASDAQ:INFN – Get Rating) CEO David W. Heard bought 6,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $4.95 per share, for a total transaction of $29,700.00. Following the completion of the purchase, the chief executive officer now directly owns 744,943 shares of the company’s stock, valued at $3,687,467.85. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Infinera Stock Down 0.2 %

Shares of Infinera stock opened at $4.94 on Wednesday. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.04 and a current ratio of 1.69. Infinera Co. has a 52-week low of $4.26 and a 52-week high of $7.80. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -23.52 and a beta of 1.41. The company’s 50 day moving average price is $6.44 and its 200-day moving average price is $6.77.

Infinera (NASDAQ:INFN – Get Rating) last issued its earnings results on Wednesday, May 3rd. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Infinera had a negative net margin of 2.62% and a negative return on equity of 9.66%. The firm had revenue of $392.08 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Infinera Co. will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INFN. Morgan Stanley raised their target price on shares of Infinera from $7.00 to $7.50 and gave the company an “equal weight” rating in a research note on Thursday, March 9th. Needham & Company LLC reissued a “strong-buy” rating and set a $15.00 price target on shares of Infinera in a research note on Monday, March 13th. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Infinera in a research note on Friday, February 24th. Northland Securities decreased their price target on shares of Infinera from $7.00 to $6.00 in a research note on Thursday, May 4th. Finally, StockNews.com assumed coverage on shares of Infinera in a research note on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Infinera has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Hedge Funds Weigh In On Infinera

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Infinera by 32.1% in the 1st quarter. JPMorgan Chase & Co. now owns 710,162 shares of the communications equipment provider’s stock worth $5,510,000 after purchasing an additional 172,597 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Infinera by 5.0% during the 1st quarter. Squarepoint Ops LLC now owns 344,981 shares of the communications equipment provider’s stock valued at $2,677,000 after acquiring an additional 16,522 shares during the period. First Trust Advisors LP grew its stake in shares of Infinera by 685.8% during the 1st quarter. First Trust Advisors LP now owns 471,289 shares of the communications equipment provider’s stock valued at $3,657,000 after acquiring an additional 411,314 shares during the period. Geode Capital Management LLC grew its stake in shares of Infinera by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 3,768,491 shares of the communications equipment provider’s stock valued at $29,244,000 after acquiring an additional 146,105 shares during the period. Finally, Greenhouse Funds LLLP grew its stake in shares of Infinera by 7.5% during the 1st quarter. Greenhouse Funds LLLP now owns 8,048,152 shares of the communications equipment provider’s stock valued at $62,454,000 after acquiring an additional 561,769 shares during the period. Hedge funds and other institutional investors own 97.74% of the company’s stock.

Infinera Company Profile

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Infinera Corp. engages in the provision of networking solutions, which consists of networking equipment, software and services. It operates through the following geographical segments: United States, Other Americas, Europe, Middle East and Africa, and Asia Pacific and Japan. Its products include control and automation, network routers, packet optical, and compact modular.