Investors Purchase Large Volume of Call Options on Infinera (NASDAQ:INFN)

Infinera Co. (NASDAQ:INFN) was the recipient of some unusual options trading on Thursday. Stock traders bought 11,213 call options on the company. This represents an increase of approximately 1,428% compared to the typical daily volume of 734 call options.

In other Infinera news, CAO Michael H. Fernicola sold 3,927 shares of the stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $10.00, for a total transaction of $39,270.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Fallon sold 35,065 shares of Infinera stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $9.82, for a total value of $344,338.30. The disclosure for this sale can be found here. Insiders sold a total of 473,609 shares of company stock worth $4,751,901 in the last quarter. Corporate insiders own 2.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new position in shares of Infinera in the 4th quarter worth about $30,000. Baldwin Brothers Inc. MA bought a new position in Infinera during the fourth quarter valued at approximately $58,000. FDx Advisors Inc. purchased a new position in shares of Infinera during the first quarter worth approximately $99,000. Regal Wealth Group Inc. boosted its stake in shares of Infinera by 27.8% in the 4th quarter. Regal Wealth Group Inc. now owns 10,100 shares of the communications equipment provider’s stock valued at $106,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Private Trust Co. NA bought a new position in shares of Infinera during the 1st quarter valued at $107,000. Institutional investors and hedge funds own 91.39% of the company’s stock.

Several equities research analysts have recently commented on INFN shares. Zacks Investment Research downgraded Infinera from a “hold” rating to a “sell” rating in a report on Monday, March 1st. B. Riley cut their price target on Infinera from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday, February 24th. Finally, Rosenblatt Securities increased their price objective on Infinera from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, February 10th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.95.

INFN opened at $9.37 on Friday. Infinera has a 12 month low of $3.98 and a 12 month high of $11.51. The company has a market cap of $1.92 billion, a PE ratio of -6.51 and a beta of 1.28. The company has a current ratio of 1.85, a quick ratio of 1.30 and a debt-to-equity ratio of 1.48. The company has a 50 day moving average of $9.74 and a 200 day moving average of $9.06.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Monday, February 22nd. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. The business had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $356.79 million. Infinera had a negative return on equity of 27.33% and a negative net margin of 19.00%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. Research analysts forecast that Infinera will post -0.56 earnings per share for the current fiscal year.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.

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