Thomas Fallon (Insider Trades), CEO of Infinera Corp. (INFN), bought 100,000 shares of the company on May 3.
The price per share was $11.95 for a total transaction of $1,195,000.
Infinera provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and simplify optical network operations. The company has a market cap of $1.69 billion and a P/S ratio of 1.94.
The number and volume of insider sells increased from 32 transactions totaling 1,260,601 shares in 2013, to 41 transactions totaling 1,857,397 shares in 2014. The number of insider buys nearly halved to 19 transactions totaling 1,093,614 shares in the following year.
From 2013 to 2015, there was only one insider buy in the company amounting to 25,000 shares. In the first four months of 2016, there were two insider buys totaling 125,000 shares, including Fallon’s aforementioned transaction. Infinera CFO Brad Feller (Insider Trades) purchased the other 25,000 on the same day as Fallon’s transaction for an average price of $11.75 per share. The increase in insider buys in 2016 corresponds to a drop in month-end price. 
For more information about insider trades with Infinera, click here.
The company reported net revenue of $244.82 million in the fiscal first quarter ended March 26. Net revenue is up from $186.86 million in the fiscal first quarter of the previous year. Net income, however, decreased from $12.366 million, or 9 cents per share, to $12.02 million, or 8 cents per share in the same period. Fallon commented that the company “continued to execute well in the first quarter, winning deals across [its] product portfolio and delivering strong financial results.” Annual revenue increased 18.16% since 2011 and follows an increasing trend line. Annual net income also follows an increasing trend line. 
The company announced on May 4 that Vietnam–based Hanoi Telecom Corporation, a wireless telecom operator, selected Infinera to advance its optical network in Vietnam.
According to GuruFocus.com information, Infinera has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.
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