Infinera Corp. Director Kenneth Goldman Sells 40,000 Shares (INFN)
Infinera Corp. (NASDAQ:INFN) Director Kenneth Goldman sold 40,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.09, for a total transaction of $443,600.00. Following the completion of the sale, the director now directly owns 37,234 shares in the company, valued at approximately $412,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on INFN. Analysts at MKM Partners raised their price target on shares of Infinera Corp. (NASDAQ:INFN) from $12.00 to $14.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Infinera Corp. (NASDAQ:INFN) from $12.00 to $16.00 in a research note to investors on Monday, July 22nd. They now have a “buy” rating on the stock. Finally, analysts at William Blair initiated coverage on shares of Infinera Corp. (NASDAQ:INFN) in a research note to investors on Wednesday, July 17th. They set an “outperform” rating on the stock.
Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.10.
Infinera Corp. (NASDAQ:INFN) traded up 2.44% on Tuesday, hitting $11.33. 1,260,362 shares of the company’s stock traded hands. Infinera Corp. has a one year low of $4.33 and a one year high of $12.16. The stock’s 50-day moving average is $10.63 and its 200-day moving average is $9.60. The company’s market cap is $1.338 billion.
Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $138.40 million for the quarter, compared to the consensus estimate of $133.30 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 48.0% on a year-over-year basis.
Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.
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