Infinera Corp. President David F. Welch Sells 10,000 Shares (INFN)
Infinera Corp. (NASDAQ:INFN) President David F. Welch sold 10,000 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $9.15, for a total value of $91,500.00. Following the completion of the sale, the president now directly owns 14,132 shares of the company’s stock, valued at approximately $129,308. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on INFN. Analysts at Zacks downgraded shares of Infinera Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $10.00 price target on the stock. Separately, analysts at Goldman Sachs upgraded shares of Infinera Corp. from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, April 29th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Infinera Corp. in a research note on Thursday, April 24th. They now have a $10.50 price target on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Infinera Corp. currently has a consensus rating of “Buy” and an average target price of $11.86.
Infinera Corp. (NASDAQ:INFN) traded up 1.17% on Wednesday, hitting $9.53. 1,262,577 shares of the company’s stock traded hands. Infinera Corp. has a 52 week low of $6.96 and a 52 week high of $12.16. The stock has a 50-day moving average of $8.90 and a 200-day moving average of $8.86. The company’s market cap is $1.167 billion.
Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.46 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts predict that Infinera Corp. will post $0.17 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.