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Infinera Corp. (NASDAQ:INFN) President David F. Welch sold 10,000 shares of Infinera Corp. stock on the open market in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $9.03, for a total transaction of $90,300.00. Following the completion of the sale, the president now directly owns 14,132 shares in the company, valued at approximately $127,612. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Separately, analysts at FBR Capital Markets initiated coverage on shares of Infinera Corp. in a research note to investors on Thursday, December 19th. They set an “outperform” rating and a $12.50 price target on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.16.

Shares of Infinera Corp. (NASDAQ:INFN) traded down 2.96% on Thursday, hitting $8.86. The stock had a trading volume of 2,453,440 shares. Infinera Corp. has a one year low of $6.06 and a one year high of $12.16. The stock’s 50-day moving average is $9.38 and its 200-day moving average is $10.37. The company’s market cap is $1.059 billion.

Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.06. The company had revenue of $142.00 million for the quarter, compared to the consensus estimate of $140.40 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that Infinera Corp. will post $0.02 earnings per share for the current fiscal year.

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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