Insider Buying: Infinera Corp. (INFN) Director Acquires 100,000 Shares of Stock

Infinera Corp. (NASDAQ:INFN) Director Marcel Gani bought 100,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $3.15 per share, with a total value of $315,000.00. Following the acquisition, the director now directly owns 222,281 shares in the company, valued at approximately $700,185.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ INFN opened at $3.13 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.10 and a debt-to-equity ratio of 0.55. The stock has a market cap of $561.79 million, a price-to-earnings ratio of -4.89 and a beta of 0.62. Infinera Corp. has a one year low of $3.08 and a one year high of $10.30.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The business had revenue of $295.60 million for the quarter, compared to the consensus estimate of $311.11 million. During the same quarter last year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities research analysts expect that Infinera Corp. will post -0.9 EPS for the current year.

INFN has been the topic of several recent analyst reports. Northland Securities reaffirmed a “buy” rating and issued a $7.00 price target on shares of Infinera in a research note on Thursday, May 9th. Zacks Investment Research downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 2nd. BidaskClub downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. Morgan Stanley set a $6.00 price target on shares of Infinera and gave the stock a “hold” rating in a research note on Friday, February 22nd. Finally, ValuEngine raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.58.

Several institutional investors have recently modified their holdings of INFN. JPMorgan Chase & Co. boosted its stake in Infinera by 335.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 928,023 shares of the communications equipment provider’s stock worth $6,775,000 after purchasing an additional 714,799 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Infinera by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 103,428 shares of the communications equipment provider’s stock worth $755,000 after purchasing an additional 36,785 shares in the last quarter. Vanguard Group Inc. boosted its stake in Infinera by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,318,728 shares of the communications equipment provider’s stock worth $104,526,000 after purchasing an additional 918,279 shares in the last quarter. Marshall Wace LLP acquired a new stake in Infinera in the 3rd quarter worth approximately $1,574,000. Finally, Vanguard Group Inc boosted its stake in Infinera by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 14,318,728 shares of the communications equipment provider’s stock worth $104,526,000 after purchasing an additional 918,279 shares in the last quarter. 83.15% of the stock is currently owned by hedge funds and other institutional investors.

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About Infinera

Infinera Corporation provides optical transport networking 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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