Infinera Corp. (NASDAQ:INFN) COO David W. Heard acquired 20,000 shares of the company’s stock in a transaction on Friday, November 9th. The shares were acquired at an average price of $4.74 per share, for a total transaction of $94,800.00. Following the completion of the acquisition, the chief operating officer now directly owns 44,532 shares in the company, valued at $211,081.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ INFN opened at $4.70 on Friday. Infinera Corp. has a twelve month low of $4.11 and a twelve month high of $12.39.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, November 6th. The communications equipment provider reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). Infinera had a negative return on equity of 11.78% and a negative net margin of 19.18%. The business had revenue of $200.41 million during the quarter, compared to the consensus estimate of $210.57 million. During the same period in the previous year, the business earned ($0.11) EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Infinera Corp. will post -0.62 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of INFN. Bank of New York Mellon Corp increased its holdings in shares of Infinera by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after acquiring an additional 1,265,072 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Infinera by 12.5% in the 2nd quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock valued at $108,849,000 after acquiring an additional 1,222,230 shares during the last quarter. FMR LLC increased its holdings in shares of Infinera by 3.3% in the 3rd quarter. FMR LLC now owns 23,100,000 shares of the communications equipment provider’s stock valued at $168,630,000 after acquiring an additional 742,901 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Infinera by 335.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 928,023 shares of the communications equipment provider’s stock valued at $6,775,000 after acquiring an additional 714,799 shares during the last quarter. Finally, Elk Creek Partners LLC increased its holdings in shares of Infinera by 26.0% in the 3rd quarter. Elk Creek Partners LLC now owns 2,350,922 shares of the communications equipment provider’s stock valued at $17,162,000 after acquiring an additional 484,850 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

Several equities research analysts have issued reports on the company. Jefferies Financial Group upgraded Infinera from an “underperform” rating to a “hold” rating in a report on Friday. Rosenblatt Securities downgraded Infinera to a “hold” rating in a report on Thursday. Nomura restated a “neutral” rating and set a $6.00 price objective (down from $12.00) on shares of Infinera in a report on Wednesday. Needham & Company LLC dropped their price objective on Infinera from $14.00 to $9.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Finally, Piper Jaffray Companies dropped their price objective on Infinera to $6.50 and set a “neutral” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Infinera presently has an average rating of “Hold” and a consensus target price of $9.40.

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About Infinera

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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