Infinera Corporation (NASDAQ:INFN) President David F. Welch sold 20,000 shares of Infinera Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total transaction of $185,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
Infinera Corporation (NASDAQ:INFN) traded up 0.12% on Friday, reaching $8.40. 1,455,798 shares of the company’s stock were exchanged. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50. The firm’s 50-day moving average is $10.61 and its 200-day moving average is $10.43. The firm’s market cap is $1.24 billion.
Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $176.28 million during the quarter, compared to analyst estimates of $181.16 million. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The business’s revenue was down 31.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities analysts forecast that Infinera Corporation will post ($0.56) earnings per share for the current year.
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Several research firms recently issued reports on INFN. Citigroup Inc. lifted their price objective on shares of Infinera Corporation from $8.50 to $10.00 and gave the company a “sell” rating in a research note on Friday, July 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Infinera Corporation in a research note on Friday, July 21st. MKM Partners reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Infinera Corporation in a research note on Friday, July 21st. Needham & Company LLC lifted their price objective on shares of Infinera Corporation from $13.50 to $14.50 and gave the company a “strong-buy” rating in a research note on Monday, June 19th. Finally, B. Riley reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Infinera Corporation in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Infinera Corporation presently has a consensus rating of “Hold” and an average price target of $11.82.
Several hedge funds have recently bought and sold shares of INFN. US Bancorp DE boosted its stake in Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares in the last quarter. Fred Alger Management Inc. bought a new stake in Infinera Corporation during the second quarter worth about $107,000. Bbva Compass Bancshares Inc. bought a new stake in Infinera Corporation during the first quarter worth about $103,000. AlphaOne Investment Services LLC bought a new stake in Infinera Corporation during the second quarter worth about $108,000. Finally, First National Bank of Omaha bought a new stake in Infinera Corporation during the first quarter worth about $104,000. Institutional investors own 81.95% of the company’s stock.
Infinera Corporation Company Profile
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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